NEW BULLISH Plays
NanoString Technologies - NSTG - close: 20.60 change: +0.60
Stop Loss: 19.45
Target(s): to be determined
Current Gain/Loss: unopened
Entry on March -- at $--.--
Listed on March 19, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 141 thousand
New Positions: Yes, see below
Why We Like It:
NSTG is in the healthcare sector. The company makes life science tools for biotech research. The company held its IPO last year. Shares have since more than doubled from their 2013 lows. The recent pullback looks like an entry point and traders jumped in to buy the dip near round-number support at $20.00 today. NSTG outperformed the market with a +3.0% gain.
NSTG can be a volatile stock and with any biotech stock I suggest caution. We want to use small positions to limit our risk. Today's high was $20.75. I am suggesting a trigger to open small bullish positions at $20.85. I am not setting an exit target tonight but probably somewhere near $25.00.
FYI: The Point & Figure chart for NSTG is bullish with a $33.50 target.
Trigger @ 20.85 *small positions*
Suggested Position: buy NSTG stock @ (20.85)