Web fallondpicks.com

Breakouts for Oct 19th: The first pick, AXYX, announced plans to present at the RR Techvest 6th Annual Healthcare Conference, which was used as an excuse to lap shares up. The stock broke important $6.10 near term resistance with new highs in on-balance volume. The MACD trigger line remains in consolidation, although it is holding above the bullish zero trigger line. Short term traders may look to take profits on a test of $8.47 but a break to new 52-week highs should be good for a run to $14.25. The second pick, UPCS, plans to announce earnings on Oct 28th. The stock has broken a $3.50-$4.50 trading range on volume as part of a likely pre-earnings run. The stock has climbed from the depths of $0.27 in 2003, so this may be the last of the steam before a lengthy correction takes hold. It shows good technical strength, particularly its MACD line - momentum play into earnings and trail your stops. GTC orders around $4.85 can be used to take advantage of weakness over the coming days. Point-n-Figure charts suggest a price target of $12.50, so it is not lacking strength. The third pick, LMRA, is a recent IPO which has closed solidly past its offer price. Based on the depth of its base it should rise to challenge psychological $10 resistance. It is in the nanotechnology arena which has had a bumpy ride of late. It has little technical history, although MACD is on the verge of a breakout.

Back to top

Back to top

Back to top

"IBD" refers to Investors Business Daily