Editor's Note:

In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Many of these need to see a break past key support or resistance:

(bullish ideas) GS, CYT, GHL, AN, BDX, DSW, JAZZ, CNQR, WFM, FISV


OpenTable, Inc. - OPEN - close: 52.21 change: +0.83

Stop Loss: 49.40
Target(s): 58.00
Current Option Gain/Loss: + 0.0%
Time Frame: 4 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Shares of OPEN displayed relative strength today. The stock has been consolidating under major resistance at the $50.00 level for months. On the weekly chart it looks like a significant bottom for OPEN. The current bullish breakout past $50.00 could spark a short squeeze. The most recent data listed short interest at 42% of the very small 19.4 million share float.

I am suggesting new bullish positions now with a stop loss at $49.40. However, I would seriously consider waiting for a dip into the $51.50 area as a better entry point before launching positions.

Our multi-week target is $58.00. FYI: The Point & Figure chart for OPEN is bullish with a $73 target.

- Suggested Positions -

buy the Feb $55 call (OPEN1316B55) current ask $2.40

Annotated Chart:

Entry on January xx at $ xx.xx
Average Daily Volume = 361 thousand
Listed on January 03, 2012