- New Trades -
Motorola Solutions - MSI - close: 54.76
MSI was a recent addition to our watch list. The stock had been consolidating sideways above support near $52 and resistance at $54. Our plan was to wait for shares to close over $54.00 and then buy calls the next day. MSI drifted higher toward resistance at $54 last week and finally broke out on Friday. The stock is nearing new four-year highs.
Friday's close above $54.00 met our entry point requirements. The plan is to buy calls on Monday morning. More nimble traders may want to wait and look for a dip back to $54.00 as your entry point instead. The $54.00 level should be new short-term support.
Our long-term target is $65.00. Currently the Point & Figure chart is bullish and is forecasting at $70 target.
- Suggested Positions -
NOV 26, 2012 - entry price on MSI @ --.--, option @ -.--
symbol: MSI1418a60 2014 JAN $60 call - current bid/ask $ 2.86/ 3.10
Chart of MSI:
Current Stop loss: 49.75
Play Entered on: 11/26/12
Originally listed on the Watch List: 11/17/12