Friday, August 24, 2007

Chart: IDXX

Last night I was scanning sectors that had outperfomed the market over the past month. Number one on the list was Diagnostics, a sub-industry in the Healthcare sector.

A stock that caught my eye that had not been showing up on my nightly scans and focus lists was IDXX. Most of my scans use a volume cutoff, and IDXX is not a high volume stock. However, the stock is showing signs of accumulation.

The stock looks to be consolidating it's gains before making it's next move. I may take a small "probing" position here at $107, with a stop under recent congestion at $103.

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