Trade Ideas: KG

Taken from the Channel scan. Earnings due tomorrow, but the stock has made a small, handle breakout, in the run up to this figure. Market breakouts in Tech, small caps, and S&P have helped drive today's gains. Point-n-figure target of $33 is not unreasonable, but there is resistance at $20.62 from 2004 to consider first.

King Pharmaceuticals, Inc. engages in the development, manufacture, marketing, and sale of branded prescription pharmaceutical products. It offers various branded prescription products over seven therapeutic areas, including cardiovascular, endocrinology, neuroscience, critical care, anti-infective, respiratory, and other. The company also develops, manufactures, and sells auto-injectors for the self-administration of injectable drugs. In addition, King Pharmaceuticals provides contract pharmaceutical manufacturing services to third-party pharmaceutical and biotechnology companies, as well as transfers company’s manufacturing and marketing rights to third parties for licensing fees or royalty payments.

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