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PLAY > New Plays Tuesday, June 12, 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

ESI - ITT Education $43.70 -0.32 (+0.26)

This provider of post-secondary degree programs has been edging higher all year. This could be due to the emphasis that current administration has been putting upon educational programs or it could be that ITT provides much needed technology training that has been in great demand. Either way, institutions have certainly been gobbling up this stock, providing good buying support along the way to a year-to-date gain of 98%. The stock is also the leader of the commercial-school sector based upon earnings growth and relative strength. Turning to the chart, we like the way ESI has just made a breakaway gap. The stock gapped higher on 6/4/01 and has not looked back. It has also formed a flag formation that has us looking towards $48 as the near term price objective. Traders interested in initiating a new position in our education play could look to do so on a close above resistance at $44.50. There is weak resistance at $45 as well, but if volume continues to come in at around 250,000 shares, we don't think it will pose a problem. However, more conservative traders may want to go in with a half position on a breach of $44.50, and then go in with the other half on a breach above $45. Our initial stop is placed at $40.00.


Picked On June 12th @ $43.70
Change Since Picked 0.00
Stop Loss @ $40.00   
 
Interactive Chart Quote News First Call on ESI
 

New Momentum Plays

None

New Plays Index

 


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