RBY our Free Stock Pick for Thu Jan 13th 2011
Rubicon Minerals Corporation (RBY) today jumped 40 cents, or 7.22%, on one of the heaviest-volume days this year, with 5.7 million shares traded. That's 4 times higher than average volume, and the stock closed at its second highest closing level ever at 5.94 (the highest close being 6.04 on Nov 29).
The move broke the stock out of the bullish flag in which it had been consolidating for the last six weeks. There is a high probability that current momentum will continue in the next few trading days, which could spur a move in RBY to around the 6.50 area.
Preferred entry (buy stop) price is 6.01, with a stop loss at 5.78. See our Trading Rules page for more detail.