Don’t forget about this recent IPO. Let’s look at Quintiles Transnational (Q).
Discussed in this article: Quintiles Transnational Holdings ( $Q )
I want to look at Quintiles ( $Q Quintiles Transnational Holdings Inc ). “Q,” nice to have a single letter as a ticker.
Look, this is the high; what I want to explain is a little IPO strategy that I have. I’ll actually be issuing a special report on that for members next week in my absence. If you’re a member you can look for that.
Here’s the deal, the stock printed this high here, so this is resistance, look for some selling right around here. The way this stock is trading now, it actually looks pretty strong; I would be buying the stock even right now in anticipation of a breakout. You just keep kind of a low stop, or a tight stop right underneath today’s intraday low. Buy some stock now, then if the stock pushes above resistance, into the green box here, that’s when you buy more and then you’re pretty much off to the races on this.
So this is how I would trade this. You know I like to keep track of IPO’s just to see how they trade; see if they exhibit this particular pattern. I hope this helps you.