In addition to tonight's new play these stocks caught my eye and might present an opportunity. Check them out:
HSTM, BABY, and AF
NEW BULLISH Plays
AirMedia Group Inc. - AMCN - close: 3.61 change: +0.11
Stop Loss: 3.30
Current Gain/Loss: unopened
Time Frame: 8 to 10 weeks
New Positions: Yes, see below
Why We Like It:
AMCN is a marketing company that displays ads to travelers in airports and on airplanes in China. If you look at the long-term weekly chart for AMCN you can see that shares tend to have the big, multi-month swings (both up and down). The stock appears to be on the upswing after spending four months building a bottom under the $3.00 level.
Now shares have spent a week consolidating sideways in the $3.40-3.65 zone near its simple and exponential 200-dma. A breakout from this range should signal the next leg higher. I am suggesting a trigger to open small bullish positions at $3.70 with a stop loss under today's low. We will set our multi-week target at $4.90.
Let's keep our position size small to limit our risk.
Trigger @ 3.70 (small positions)
Suggested Position: buy AMCN stock @ 3.70
Entry on December xx at $ xx.xx
Earnings Date 03/05/12 (unconfirmed)
Average Daily Volume = 170 thousand
Listed on December 12, 2011