NEW BEARISH Plays
American Vanguard - AVD - close: 28.17 change: -0.53
Stop Loss: 29.15
Current Gain/Loss: unopened
Entry on April -- at $--.--
Listed on April 11, 2013
Time Frame: exit PRIOR to earnings in early May.
Average Daily Volume = 227 thousand
New Positions: Yes, see below
Why We Like It:
AVD is in the agricultural chemical industry. Unfortunately, while giants like Monsanto (MON) are hitting new highs shares of AVD are trading near their Q1 lows. The stock has been underperforming the market for the last few weeks. AVD has fallen to support near $28.00 and its simple 300-dma (currently 27.89).
We are suggesting a trigger to launch bearish positions at $27.75. If triggered our target is $25.15. More aggressive traders could aim lower. The
Point & Figure chart for AVD is bearish with a $21.00 target.
Trigger @ 27.75
Suggested Position: short AVD stock @ (trigger)
- (or for more adventurous traders, try this option) -
buy the May $30 PUT (AVD1318Q30) current ask $2.65