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PLAY > New Plays Tuesday, June 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

SRDX - 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.


Picked on June 5th @ $58.00
Change Since Picked 0.00
Stop Loss @ $54.00    
 
Interactive Chart Quote News First Call on SRDX
 

New Momentum Plays

None

New Plays Index

 


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