stock recommendation, stock investment information

An extra: update of a previously covered stock.

Updates:

ACE (Ace Ltd--$44.39; +0.49; optionable): Insurance
http://biz.yahoo.com/p/a/ace.html
STATUS: After breaking out of the recent 3.5-month flat base, ACE has formed an ascending wedge pattern that is just above the earlier highs in its bigger base, a 15-month shallow cup (with the September downward slash that makes it look like a reverse head and shoulders, in a way). Concentrating on the more recent pattern, however, that has formed up nicely above support of the 18 day MVA (42.44). The stock has moved up to the resistance in the pattern, but volume is still low at 1.3 million (avg. 2.5 million). Looking for a breakout as that volume ramps higher. Great money flow. Target: 54
BUY POINT: Breakout: 44.86 on volume of 3.4 million or higher. Stop Advisory (7%): 41.72
POSITION: Stock and/or May $40 calls to buy (ACE EH).

http://www.investmenthouse.com/cd/ace.html

Good Investing!
Jon L. Johnson and The Daily Staff

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