Commentary
Sector Watch


Play of the Day
Current Plays
Watch List
New Plays
Play Updates
Drops


Announcements
Current Split Catalog
New Candidates
Candidates Index
Expected Splits
Splits 101


Play Results
Split Predictions


Ask the Trader
Trading 101
Bookstore
Glossary
Dow Charts
FAQ


Splits
SEC Filings
Coming Economic Events
BoD Meetings
Earnings


Chat Room
Message Boards


Email Newsletter
Author Search
Advertise With Us
Change Password
Contact Us

Play of the Day (For Tuesday)
- HSIC INFO -
Quote
 
Profile
News
 
Interactive Chart
Monday, April 23, 2001

HSIC - Henry Schein Inc. $38.36 +0.36

Sunday's Comment:

Henry Schein, Inc. provides a wide range of healthcare products and services to dental laboratories, physician practices, veterinary clinics, and healthcare institutions in North America, Australia, and Europe. HSIC is coming out of a large cup and handle formation that started back in July of 1999. More recently, the stock took out major resistance at $36 on March 29th after consolidating in the $28-$34 range for three months (the handle). The stock quickly pulled back to the 100-dma only to bounce back to a new 52-week high of $38.40 on Friday. We believe that the stock may be ready to possibly breakout to new highs as we approach the earnings release in early May. Going forward, HSIC has support at the 5-dma, currently at $37, with additional support at $36.36, the 10-dma. There is resistance at Friday's intra-day high of $38.40 and then the 1/22/99 intra-day low of $40. Traders may consider entry points on a bounce off of $37 or a move above $38.40 on volume of at least 250,000 shares by noon. We plan to set stops at $35 to limit potential losses.

Monday's Update:

Since reporting outstanding quarterly results in early March, Henry Schein's stock has shined, rising from $28 a share to today's close of $38.36, which represents a 35 percent gain. More importantly, though, we think that Henry Schein's stock could continue to shine thanks to its stout technical indicators. In fact, both the MACD and On-Balance Volume are displaying strong momentum buy signals. At current levels, Henry Schein appears to have support at its 10-dma at $36.75, with additional support coming from an intermediate uptrend line formed earlier this month. At this point, there is no significant resistance until the January 1999 highs of $46.50. Traders considering a position in Henry Schein should look for strong volume, 200,000 shares or more traded by noon EDT, on a move through Monday's intra-day all- time high of $38.54 or a bounce off support at $36.75 before placing their trades.


April, 22nd @ $38.00
Change since picked +0.36
Stop loss @ $35.00

 

Play of the Day Index

 


Copyright 2001 SplitTrader.com

Do not duplicate or redistribute in any form.
Privacy Statement   Disclaimer   Terms Of Service