CCK our Free Stock Pick for Thu Jan 27th 2011
Be alerted when Sinisa posts an article
Crown Holdings Inc. (CCK) shares jumped 46 cents, or 1.46%, today on very solid volume of 1.8 million shares. That's nearly double the average volume, and the close at $33.98 was just below the multi-year high at $34.09.
That level could be broken tomorrow, and if this breakout occurs momentum could move the stock to around the 35.50 area. That would be a test of the upper trend line of the bullish channel in which the stock has been trading last three months.
Preferred entry (buy stop) price is at 34.15, with a stop loss at 33.40. Since CCK's earnings announcement is on Tuesday February 1 after market hours, I suggest to close the position before that time.
See our Trading Rules page for more detail.
