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*** These days I post my charts/thoughts on http://www.stocktwits.com under the same user name BreakoutTrader *** "Charts are worth a million words." - Ralph Acampora "Having learned what folly I was capable of, I closed that particular incident." - Reminiscences of a Stock... More
  • FRX Forest Labs: Extreme Breakout  0 comments
    Jan 14, 2012 10:25 PM | about stocks: FRX
    Forest Labs (FRX), the generic drug maker, is one of the stocks
    picked up by our extreme breakout screener as of 1/13.

    20120113_FRX_Weekly


























    FRX's
    strength is weaker than that of S&P 500 (the red line
    in the lower pane) and Dow Jones Pharmaceuticals index
    (the red line in the upper pane). However, both lines are
    going up. The trend appears to be up after having broken the
    $30 resistance level. The next resistance area is $32.

    Among the top analysts who have good records rating FRX,
    there are one Buy, one Sell and two Neutral ratings. Average
    rating from all analysts is Neutral. The medium forecast price
    for the next 12 months is $35.50, the high is $46, the low is
    $23.00. FRX closed Friday 1/13 at $30.90

    Note that FRX is scheduled to release quarterly reports
    next week. So be aware that any big earnings surprises
    could move the stock either way.

    DisclosureI do not own the stock and do not plan to
    initiate any positions in the next 72 hours.
    Stocks: FRX
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