TIBCO Software - TIBX - close: 32.86 change: +0.51

Stop Loss: 31.40
Target(s): 35.75
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
It's a long way from its Internet bubble days at $140 a share but TIBX is trending higher. The company recently reported earnings in late March and beat both the revenue and the earnings estimate. Traders bought the post-earnings dip at support near $30.00. Now TIBX continues to build on its bullish trend of higher lows. The stock tried to breakout past resistance near $33.00 today but didn't quite make.

I am suggesting a trigger to open bullish positions at $33.50. We'll use a stop loss at $31.40. Our multi-week target is $35.75. FYI: The Point & Figure chart for TIBX is bullish with a $58.00 target.

Trigger @ $33.50

Suggested Position: buy TIBX stock @ (trigger)

- or -

buy the May $34 call (TIBX1219E34) current ask $1.15

Annotated chart:

Entry on April xx at $ xx.xx
Earnings Date 03/29/12 (already announced)
Average Daily Volume = 3.1 million
Listed on April 12, 2011