ACTIONS:
Buy to open Rigel Pharmaceuticals (RIGL) at current levels.
Take profits and sell to close Array BioPharma (ARRY) at current levels.
Dear Momentum Stocks Weekly Subscriber,
I have a New Trade for the Momentum Stocks Weekly portfolio on a stock that is showing strength. Shares are currently at $3.70 and could challenge $5 over the next few months.
I also have a slight Profit Alert on a slower-moving trade.
New Trade
Buy to open Rigel Pharmaceuticals (RIGL, $3.72, up $0.15) at current levels.
I like shares at current levels and will have a complete write-up on the company in Monday’s update.
Current Trades
Array BioPharma (ARRY, $8.23, up $0.20)
Original Entry Price: $8.17 (2/12/15)
Lowered Price from Selling Options: None
Exit Target: $9.10 (Limit Order)
Return: 1%
Stop Target: $6
Take profits and sell to close Array BioPharma (ARRY) at current levels.
Shares have traded in a tight range for a month. I want to move on from this trade to faster-moving plays, but I may revisit the name if and when $8.75-$9 clears.
All prices given in this update are current as 2:50 p.m. EST.
Every new Momentum Stocks Weekly recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.
Trade on!
Rick Rouse
Editor
Momentum Stocks Weekly