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PLAY > New Plays Thursday, May 03, 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

BMET - Biomet Inc. $42.16 +0.30 (+0.47)

Biomet provides a wide variety of medical devices such as electrical bone growth stimulators, spinal implants, and bone cements, used primarily by musculoskeletal specialists. Shares of BMET have performed well over the past year. The stock has gained over 97% from is 52-week low of $21.33 on 5/23/00. BMET has been trending higher over the past four weeks, and we believe that the stock could break out to new highs. We are also looking for a split announcement following the June 17th earnings release or its next BoD meeting, expected on June 29th. The company already has enough shares for a split, with 500 million shares authorized and 179 million shares out standing, and the stock is its within historic split range. From a technical standpoint, support is the 10-dma at $41.11 with stronger support at $40.35, the April 27th intra-day low. Resistance is the all-time high of $43.68 and then possibly $44 or $45. Look for entry points on a bounce off of $41.11 or a breakout above $43.68 on volume greater than 900,000 shares by noon. We plan to set stops at $39.50 as downside protection.


Picked on May 3rd @ $42.16
Change since picked +0.00
Stop Loss @ $39.50
 
Interactive Chart Quote News First Call on BMET
 

New Momentum Plays

None

New Plays Index

 


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