Energy XXI Ltd. - EXXI - close: 35.05 change: +0.49

Stop Loss: 33.95
Target(s): 39.75
Current Gain/Loss: unopened

Entry on September xx at $ xx.xx
Listed on September 11, 2011
Time Frame: 4 to 6 weeks
Average Daily Volume = 790 thousand
New Positions: Yes, see below

Company Description

Why We Like It:
EXXI is an oil and natural gas company. Shares have been climbing with a bullish trend of higher lows. Currently EXXI is testing resistance near the $35.00 level. The August high was $35.43.

I am suggesting a trigger to launch small bullish positions at $35.55 with an initial stop loss at $33.95. Our target is $39.75.

Trigger @ 35.55

Suggested Position: buy EXXI stock @ (trigger)

- (or for more adventurous traders, try this option) -

buy the Oct $35 CALL (EXXI1220j35) current ask $2.05

Annotated chart: