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PLAY > New Plays Thursday, February 22, 2001
New Split Plays   New Candidate Plays   New Momentum Plays
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Plays

None

New Candidate Plays

AYE - Allegheny Energy Incorporated $48.22 +0.42 (+2.09)

Allegheny Energy Incorporated (AYE) provides its customers with electric generation and electric/natural gas delivery. The company also invests in and develops telecommunications and energy-related projects. Investing in utility companies generally requires a lot of patience, as profits are slowly accumulated over time. However, it seems this rule doesn't apply to AYE shares, which have more than doubled over the last year. What's more, we also like AYE as a split candidate. Currently, the company has 110.44 million shares outstanding and 260 million authorized, enough for a 2:1 stock split. Presently, shares have advanced nearly 20% over the last few weeks and could be gearing up for a break out rally. So, looking forward, we'll look for initial resistance to arise at the all time high of $48.65. Advances through resistance, when combined with good volume of 670,000 shares or better will present us with our first potential entry point. Further opportunities will come when AYE shares advance through the $50 mark. As for support, we expect the $47 mark to be firm, bolstered by the 5-dma of $47.05. We'll set our stops at $45.94.


Picked on February 22nd @ $48.22
Change since picked 0.00
Stop Loss @ $45.94
 
Interactive Chart Quote News Zacks on AYE
 

New Momentum Plays

None

New Plays Index

 


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