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PLAY > New Plays Thursday, April 05, 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

SRCL - Stericycle, Inc. $46.00 +2.00 (+1.38)

Stericycle provides medical waste collection, transportation, and treatment services to more than 237,000 customers in the United States, Canada and Puerto Rico. Shares of SRCL have performed well over the last three months. Last week, the stock hit an all-time high of $47, representing an 81% gain from its intra-day low of $26 on January 10th. SRCL is currently consolidating in the $41.50-$46.50 range, and we believe that it may be ready for an earnings run. We are also looking for a split announcement with the earnings release scheduled for May 1st after the bell. The company has enough shares for a 3:2 split with 30 million shares authorized and 15.3 million shares outstanding. Going forward, SRCL has support at Wednesday's intra-day high of $44.88 with additional support at $43.61, the 10-dma. Resistance is the all-time high of $47 and then possibly $49 or $50. Consider entry points on a bounce off of $44.88 or a breakout above $47.00 on volume of at least 125,000 shares by noon. We plan to place stops at $41.50 to limit potential losses.


Picked on April 5th @ $46.00
Change since picked +0.00
Stop Loss @ $41.50
 
Interactive Chart Quote News First Call on SRCL
 

New Momentum Plays

ACI - Arch Coal Incorporated $31.50 +1.65 (+1.25)

Arch Coal Incorporated (ACI) produces steam and metallurgical coal from surface and deep mines primarily located in the central Appalachian and western regions of the U.S. The company offers its coal for sale to utility, industrial and export markets. Energy stocks are hot right now, but ACI is simply on fire. Looking at the daily chart, shares have been moving higher from a mid-December low of $9.37. Support has been strong at the 5-dma of $29.70 and has presented a number of quick entry points over this period. After testing this level once again during today's trading session, shares now look poised for higher ground. Today's rally did set an intraday new high of $32, as ACI broke above previous resistance set back on 3/28. Volume was impressive, as ADI traded 51 percent above its normal average daily volume. On a technical basis, all of the short-term readings look great. Relative strength and momentum are pointing higher, with the MACD bouncing off its lower moving average line. Today's close is also of interest, as shares finished right at the previous all-time high. We also think that ACI could be fueled by strength in the broader market should today's sharp market rally continue. We do believe, however, that there could be some short-term selling, given the 402-point pop in the Dow. As far as playing ACI, we'll look for a run above today's intraday high of $32 or a pullback to the 5 or 10-dma of $28.95 to signal possible entries. Our stop is just under the 10-dma at $28.25.


Picked on April 5th@ $31.50
Change since picked 0.00
Stop Loss @ $28.25
 
Interactive Chart Quote News First Call on ACI
 

New Plays Index

 


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