Thursday, April 03, 2008

JAKKS Pacific

JAKKS Pacific (JAKK) was a featured newsletter pick for February 20th [$]. The stock since shaped a solid looking cup-and-handle pattern with rising accumulation on the back of a fresh MACD trigger 'buy' (well above the bullish zero line). The original stop of $24.89 can be raised to about $27.16, although those looking to allow a little more room can allow for a stop just below the lows of the handle at $26.

The push to $29 was enough to trigger a Triple Top Breakout on February 21st in the point-n-figure chart which reversed the previously bearish target of $13 to the bullish $46. A projected base target is closer to $42.

On the Options side, January 09 $15 strikes trade from $14.80 from the Ask, although there is not much in the way of open interest.

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