NEW BULLISH Plays
The Manitowoc Co. - MTW - close: 30.84 change: +0.69
Stop Loss: 29.60
Current Gain/Loss: unopened
Entry on February -- at $--.--
Listed on February 26, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 3.9 million
New Positions: Yes, see below
Why We Like It:
MTW is in the industrial goods sector. The company has two main divisions. One business sells cranes and the other sells foodservice equipment.
The stock shot higher in late January following a better than expected earnings report. Then after digesting its gains with a two-week sideways consolidation the rally started again.
The past few days have seen MTW breakout past round-number resistance at $30.00 and then once again consolidate sideways. Now shares are hitting new highs and we want to jump on board this momentum trade.
I am suggesting small bullish positions at the opening bell tomorrow morning. We're suggesting a stop loss just below the 10-dma. Our target is $34.85.
Suggested Position: buy MTW stock @ (the opening bell)
- (or for more adventurous traders, try this option) -
buy the Apr $30 call (MTW1419D30) current ask $2.05