Wednesday, August 16, 2006

Trade Ideas: HEI

Better breadth to the Trade Ideas scan today, than yesterday. Again, 8 different picks covered a time span of 1 minute. Market volume picked up for its third straight day, not bad for the 'vacation' month of August. Rallies in the NASDAQ 100 and Semiconductor index are well underway.

Scan pick of the day is Heico (HEI). The stock is bounding between short term support and resistance of $30 and $32, but also ranks as a channel breakout. This followed a positive test of the 200-day MA in June/July, the first test of which was accompanied with excellent volume. Plenty of room to challenge 52-week highs.

HEICO Corporation, through its subsidiaries, engages in the design, manufacture, and sale of aerospace, defense, and electronics related products and services in the United States and internationally. It operates in two segments, Flight Support Group and Electronic Technologies Group.






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