NEW BULLISH Plays
Symantec Corp. - SYMC - close: 18.71 change: +0.52
Stop Loss: 17.99
Current Gain/Loss: unopened
Entry on November 2 at $ xx.xx
Listed on November 1, 2012
Time Frame: 3 to 6 weeks
Average Daily Volume = 8.6 million
New Positions: Yes, see below
Why We Like It:
SYMC reported earnings on the 24th of October. The results were better than expected yet management warned for the next quarter. Normally a warning would have sparked a sell-off yet shares of SYMC rallied. Shares have since found support at the 50-dma and traders bought the dip today.
I do consider this a slightly more aggressive trade so we will want to limit our position size.
I am suggesting bullish positions at the open tomorrow with a stop loss at $17.99, which is just under yesterday's low. Our initial target is $19.95.
Suggested Position: buy SYMC stock @ (the open)
- (or for more adventurous traders, try this option) -
buy the DEC $19 call (SYMC1222L19) current ask $0.68