MO looks to be trying to brake out of a consolidation pattern and head higher. It looks solid for a couple bucks and probably more. Many have said that this is stock deserves to be at 100 and this could be the start up to that level. Doing a bit of math, 100-70 = 30 bucks = 42 percent. More realistically though, I believe soon the stock will make a move that measures around to the 75ish where the profit would be a more conservative 7 percent. From here though it doesn't look like the downside is threatening so I feel this is a pretty safe bet.
As an update (again), SNDK came down touched its 50 sma then bounced off pretty nicely. That was the chance to load up. Looking at a year chart, SNDK's 50 sma is now rounding getting ready to head back up and eventually break through the 50 sma. You know people will be buying when they see this. Also, I saw ADM do a very similar pattern to this one back in mid-March. Where is it from there? Up 13 percent in a month. I definately see SNDK at 52 in the near future. Again, math says 52-41.50 = 10.50 = 25 percent. Not a bad return at all.
CELG as I mentioned yesterday is continuing its consolidation. I do not like letting these stocks take off without me so if you are like me, I would recommend keeping a close eye on it and look to start a position right here.
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