RE:RE:RE:$45/sh tomorrow?Craigbad wrote: The stock should heal quickly if the market co-operates
1. Great quarter, numbers are fantastic
2. Technicals show a bullish triangle with a short term target of $58-63 when all other healthcare stocks are breaking down by the day technically
3. New acquisition has 60 new product launches planned to which news releases will act as share price catalysts
4. Trading at less than 5 x next years earnings, one of the lowest ratios of ANY stock let alone with its signifigant growth rate. Very minimal downside if any.
5. Short position built at $40, any signifigant buying pressure could cause upward capitulation closing these positions.
i doubt there's any case here for a short thesis left, may be time to put some more cash to work here, if it breaks $40 on volume it can have a great run!
figured i'd provide an update as the stock has moved up faster than I anticipated and although i expected more consolidation points and a longer process we are still under the 50dma. The short term target of $58- 63 certainly seems to be playing out. Looking at an "exhausted selling model" we are just before the break of the 50dma of $55.01. If volume conitinues and we break the 50dma we have a great chance of hitting the high end of the target of $63 as more institutions and traders should see this as a buy point. See chart, always great to know where you are as large short term gains can make you nervous and sell too early.