ZAGG our Free Stock Pick for Thu Jan 6th 2011
ZAGG Incorporated (ZAGG), after a big surge in price and volume in October, consolidated over the last two months in an ascending triangle pattern whose upper horizontal trend line -- a key resistance level -- is likely to be broken.
ZAGG finished the session Wednesday with a gain of 58 cents, or 7.48%, on higher-than-average volume, closing near the session high. This is another indication that current momentum could continue in the next few trading days toward the 9.30-9.80 area.
Preferred entry (buy stop) price is 8.40, with a stop loss at 7.90. See our Trading Rules page for more detail.