SubscribeBKD: technical possibilities
In the next few days and weeks I’ll be watching Brookdale Sr Living Inc (BKD) very closely. The stock has bounced quite far since the floor bottomed out around $43.00/share. As long as the stock continues to consolidate in a sideways pattern and holds above $45 there could be an opportunity to strike it rich on the breakout from this trading channel at $51/share.
If you insist on jumping in on this play I would recommend placing a stop loss just under $45 and purchasing half of your intended position. On the breakout above $51 you can then buy the next block of shares. A big wave is forming and the technicals suggest the bulls may have this game won.
Unfortunately, the momentum stock play well is dry for the time being. I will keep you posted on new finds.
Good Investing…
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