Take a Look at St. Jude Medical (STJ)
06/09/2009 10:35 am EST
St. Jude Medical Inc. (STJ) - This medical equipment company, which designs, manufactures, and distributes medical devices for heart-related and neurological conditions, has been in a bear market since January 2004.
On April 24, STJ was trading at just over $34. At that time, I wrote, "…But, since December, it has been forming a bullish right triangle, and a breakout through the 200-day moving average at just over $37 would change the trend to bullish and set a new price objective to $53."
STJ has successfully broken out from its right triangle, and I'll stick with the target of $53.
By Sam Collins of OptionsZone.com