NEW BULLISH Plays
AmSurg Corp. - AMSG - close: 33.20 change: +0.48
Stop Loss: 31.85
Current Gain/Loss: unopened
Entry on March 26 at $--.--
Listed on March 25, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 218 thousand
New Positions: Yes, see below
Why We Like It:
Ambulatory surgery centers (ASC) are AMSG's specialty. The company currently runs or owns 240 various surgery related centers.
Believe it or not but AMSG missed the earnings estimate when they reported back in February and management actually guided lower for the first quarter. Yet traders bounce the dip in late February and again in early March. Since then AMSG has been showing lots of strength and recently hit new all-time highs.
Traders bought the dip today near its rising 10-dma. I am suggesting we take advantage of this bounce and buy AMSG tomorrow at the opening bell. We will start with a stop loss at $31.85. More conservative traders may want to consider a stop closer to today's low (32.48) instead.
Our target is $36.75.
The Point & Figure chart for AMSG is bullish with a long-term $50.00 target.
Suggested Position: buy AMSG stock @ (the open)