|PLAY > New Plays
||Tuesday, June 05, 2001
New Split Plays
New Candidate Plays
- SurModics, Inc. $58.00 -0.79 (+5.00)
This chemical provider to the medical industry has had a very
good year thus far. Since January first it is up 57.5%.
Moreover, it has been advancing in stages and bursts that result
in the stock moving higher without ever being heavily overbought.
SRDX just broke out of its current seven-week base on Monday and
did so on convincing volume of 266,000 shares. We decided to
wait one day for the inevitable pullback in order to get in at a
slightly better price. Tuesday's volume on the pullback move was
a heavy 440,000 shares, but we were encouraged by the fact that
most of this volume came in while the stock was advancing higher
into the close. We are also encouraged by the fact that the
stock only retraced as far as support at $50.40. Traders that
might be interested in getting into this high flyer could look to
do so on a break above today's high of $59.25 on volume that puts
the stock on track to do at least 300,000 for the day. This type
of move would be confirmation of the new uptrend in the stock.
New Momentum Plays
New Plays Index