Alexion Pharma - ALXN - close: 50.37 change: +0.07

Stop Loss: 47.75
Target(s): 52.25
Current Gain/Loss: unopened
Time Frame: up to its earnings report
New Positions: Yes, see trigger

Company Description

Why We Like It:
Alexion Pharmaceuticals is a drug maker that has been outperforming the DRG drug index and BTK biotech index over the last few days. Shares even managed to close in positive territory today. Aggressive traders may want to buy the stock now. Shares do look a little short-term overbought. I am suggesting we launch positions on a dip at $49.00 with a stop loss at $47.75. If triggered our target is $52.25. However, we don't have much time. Earnings are expected on July 21st and we do not want to hold over the announcement. FYI: The Point & Figure chart for ALXN is bullish with a $63 target.

Trigger @ $49.00

Suggested Position: buy ALXN @ $49.00

- or -

buy the AUG $50 call (ALXN1120H50) current ask $2.40

Annotated chart:

Entry on July xx at $ xx.xx
Earnings Date 07/21/11 (confirmed)
Average Daily Volume = 1.1 million
Listed on July 11, 2011