In addition to tonight's new candidate, consider these stocks as possible trading ideas and watch list candidates:
INTC, SLW, EZCH, KALU, VCLK
NEW BULLISH Plays
Graco Inc. - GGG - close: 50.19 change: +0.69
Stop Loss: 48.95
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
GGG is in the industrial goods sector. Shares have been consolidating sideways under resistance near $50.00 while still building a bullish trend of higher lows. Now shares are just now starting to breakout past resistance.
I am suggesting we launch bullish positions tomorrow morning at the open but only if both GGG and the S&P 500 index open positive. Our target is $54.50.
FYI: The Point & Figure chart for GGG is bullish with a long-term $77 target.
Do not enter position unless GGG and the S&P 500 are both positive at the open
suggested position: buy GGG stock @ (the open)
Entry on February xx at $ xx.xx
Earnings Date 04/26/12 (unconfirmed)
Average Daily Volume = 414 thousand
Listed on February 21, 2012