NEW DIRECTIONAL CALL PLAYS
SBA Communications - SBAC - close: 92.78 change: +1.31
Stop Loss: 89.90
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
SBAC is in the services sector. The company operates wireless communications towers across North and Central America.
SBAC delivered a strong performance in 2013 even after its post-earnings sell-off in November last year. Fortunately the stock found support near its rising 50-dma. Since those late November lows SBAC has rallied back to challenge and now breakout past its all-time highs near $92 a share. The $100 level will act like a magnet and levitate the stock higher.
I am suggesting a trigger to buy calls at $93.00. If triggered our target is $98.50. More aggressive traders could aim higher but I suspect the $100.00 mark could be round-number resistance.
FYI: The Point & Figure chart for SBAC is bullish with a $107 target.
Trigger @ 93.00
- Suggested Positions -
Buy the MAR $95 call (SBAC1422C95) current ask $1.80
Entry on January -- at $---.--
Average Daily Volume = 1.1 million
Listed on January 23, 2014