BBI Setting Up For a Trade

I missed yesterdays move in BBI (Blockbuster) unfortunately. What makes it worse is that I was just looking at the chart the day before and was thinking this stock was going to pop and move higher. It turns out I was right.

Although it's not as sweet of a chart as the day before yesterday, I still think BBI looks good for a trade here. If you look at the chart you can see a steady trend up from its base at 4-4.50 with two strong breaks in the stock. I think BBI looks strong here and will eventually pop again to move over its 200 sma. I'm looking right now for a few days of consolidation in the stock followed by a strong move above the 200 sma. So look to buy at a low of a day, 5.15 seems like a good target for entry and hold until this stock breaks higher.

CM