Tuesday, October 2, 2007

SIRO May take Off

Don't try this at home! SIRO has the technology to make life at the dentist easier. Their stock is also a keeper. Sirona Dental is technically in a handle pattern potentially about to clear resistance. Today, it finished above the stock's 200-day ma for the 1st time in a while.

As the stock clears $36.00 today, I am looking for a break up from here, however, I have stops set at $34.90 (just below the support that the chart indicates over the last week). My cost basis is $30.05, so I want to lock in profits if this slips. For new buyers, I would nibble at $36.50 with stops in place for the trade and add again when it clears a double top at $39.90. Regardless, this is a long term stock that I plan to trade and follow. The technology is amazing and the competition is non-existent.



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