St. Jude Medical - STJ - close: 38.32 change: -0.17 stop: 40.20

Why We Like It:
The bullish trend in STJ is starting to fail. The stock has filled the gap from late July and the oversold bounce has reversed under resistance at $40.00. This looks like a spot to open bearish positions. Our first target is $35.50 near the simple 200-dma. Our second target is $33.00. The Point & Figure chart is bearish with a $30.00 target.

Annotated chart:

Entry on    August 04 at $38.32 
Change since picked:     + 0.00   			
Earnings Date          10/15/09 (unconfirmed)    
Average Daily Volume:       4.4 million 
Listed on  August 04, 2009