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PLAY > New Plays Thursday, April 19, 2001
New Split Plays   New Candidate Plays   New Momentum Plays
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Plays

SOTR - SouthTrust Corporation $46.96 +0.98 (+1.85)

SouthTrust Corporation is a regional bank holding that operates 641 banking offices in nine states in the southeast. The company provides banking, trust, mortgage, leasing, and brokerage services. Shares of SOTR have performed well despite a tough market. On Thursday, the stock hit an all-time high of $47.20, representing 90% gain over the past year. SOTR is moving higher on news of a rate cut from the Fed, a strong earnings report, and a 2:1 stock split, payable on May 11th. We believe that SOTR may be ready for a split run now that most of the major banks, have announced earnings and the Fed has become more aggressive. From a technical standpoint, SOTR has support at Wednesday's intra-day high of $46.41 with additional support at $45.41, the 5-dma. Resistance is Thursday's intra-day high of $47.20 and then possibly $48 or $50. Look for entry points on a bounce off of $46.41 or a breakout above $47.20 on volume of at least 500,000 shares by noon. We plan to set stops at $44 to limit potential losses.

Picked on April 19th @ $46.96
Change since picked +0.00
Stop Loss @ $44.00
Interactive Chart Quote News First Call on SOTR

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