Monday, December 04, 2006

Trade Ideas: LLL

Bulls have stung the bears with solid gains after what had looked to be the start of a new run downwards. Today's gains won't change the weakness of market internals, but will at least push them a step closer to reversing back in favor of the bulls. The Trade Ideas scan was buoyant with 8 picks covering a time span of 2 minutes. The buying was relatively evenly spread, although one pick, L-3 Communications (LLL) featured a total of 48 times over the course of the day.

The stock has cleared a 1-month pennant following a recent bullish "Golden Cross" between the 200-day and 50-day MAs. Stops can go on a loss of Monday's lows. Projected target is close to $117; point-n-figure chart target is $104. Monday's action ranks as an ascending triple top breakout on the point-n-figure chart. Big Brother is watching.

L-3 Communications Holdings, Inc. provides intelligence, surveillance, and reconnaissance (ISR) systems; secure communications systems; aircraft modernization; training; and government services. The company operates through four segments: Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (C3ISR); Government Services; Aircraft Modernization and Maintenance; and Specialized Products.



If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.


 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c