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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Monday: AKAM; BEIQ; HLEX; LPNT; NAVR; RHAT; ULGX; WOOF
Weekend play results:
ARTC: Held steady, still ready for the breakout.
BID: Still a solid pattern looking for a breakout.
SGTL: Held steady, unable to participate.
THQI: Edged higher but no volume yet.
TUNE: Gapped higher on decent trade but then gave it back and more.
New Plays:
Upside:
Play Date: 06/01/2004
AXCA (Axcan Pharma--$19.37; +0.14; no options): Drugs
http://biz.yahoo.com/p/a/axca.html
STATUS: Cup w/handle. AXCA is forming the handle to its 14 week base, moving laterally over the 10 day EMA (18.76). Volume remained very low as it did, just what you need in the handle. Solid 4 to 2 accumulation in the pattern (4 up price weeks on rising volume to 2 down price weeks on rising volume) shows money has continued to move into the stock during the base. Excellent money flow is leading ahead of the price, and we are looking for AXCA to follow the money higher on strong volume.
Volume: 84.429K Avg Volume: 230.954K
BUY POINT: $19.64 Volume=346K Target=$23 Stop=$18.27
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/axca.html
Play Date: 06/01/2004
DVA (Davita--$47.45; +1.03; optionable): Specialized health services. Splits 3:2 on 6-16-04.
http://biz.yahoo.com/p/d/dva.html
STATUS: Pre-split. A 12 month run has corrected back the past four weeks, coming back to 45 on the low. Tuesday DVA jumped higher, retaking the 50 day EMA (47.02) on strong, above average volume. It still has to cross the simple 50 day (47.87), but a good start to a pre-split run.
Volume: 759.4K Avg Volume: 459.09K
BUY POINT: $48.05 Volume=625K Target=$53 Stop=$46.89
POSITION: DVA JI - Oct. $45c (75 delta)
http://www.investmenthouse.com/ci/dva.html
Play Date: 06/01/2004
FARO (Faro Technologies--$26.49; -0.25; optionable): Scientific & technical Instrumentation
http://biz.yahoo.com/p/f/faro.html
STATUS: Flying plateau. Working on a larger 19 week base, now working up the right side of the base but taking a breather with a lateral move the last week over the 10 day EMA (25.60). The pattern has tightened nicely the past week as it moves laterally, and Tuesday it tried the breakout on strong volume. It could not hold the gain and gave back most of the move. Still looks solid and can run up to the prior highs and give us a very nice gain.
Volume: 680.723K Avg Volume: 433.909K
BUY POINT: $27.22 Volume=651K Target=$32 Stop=$25.31
POSITION: QEJ IE - Sept. $25c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/faro.html
Play Date: 06/01/2004
LSCP (Laserscope--$30.85; +2.31; optionable): Medical appliances
http://biz.yahoo.com/p/l/lscp.html
STATUS: 50 day EMA test. After an orderly 6-week pullback from a nice breakout, LSCP has come back to test the 50 day EMA (27.02). It held that level and jumped higher Tuesday on strong volume, starting to follow that strong money flow back up. The combination of 50 day EMA test, strong volume and surging money flow is an excellent combination.
Volume: 629.81K Avg Volume: 507.909K
BUY POINT: $31.12 Volume=600K Target=$37.35 Stop=$28.94
POSITION: LXQ IF - Sept. $30c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/lscp.html
Good Investing!
Jon L. Johnson and your IH Alerts Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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trade stock
stock recommendation
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