After closing the MAKO long trade out for a 39% gain earlier this month while stating: I have added a potential target zone around the 20 area, which MAKO could quite possibly work its way up to over time..., MAKO has now leap-frogged that longer-term target with an 82% gap higher as they are being acquired by Stryker. Congrats to anyone who might have held out for the longer-term potential target... sure wish I did but a (trading) plan is a plan. BTW- If you did hold out, probably best to just book profits now and free up that capital for [...]
The MAKO Long-term Trade, which triggered an entry back in February, has now hit the third and final target for a 39% gain. Therefore, consider booking full profits as this trade will now be moved to the Completed Trades category. I have added a potential target zone around the 20 area, which MAKO could quite possibly work its way up to over time but typically I place the final targets where the risk/reward profile is no longer clearly skewed in the direction of the trade. Updated daily & weekly charts:
The MAKO Active Long-Term Trade has hit the second target (T2 at 14.15) today for a 23.6% gain from the entry back in March. Long-term Trade ideas are trades that are geared for longer-term traders and investors vs. the typical trade ideas on RSOTC which are primarily geared towards the typical swing trader with holding periods measured in several weeks or months (although many trade ideas posted here often fall into both categories). Notice how MAKO has been basing following the breakout and long entry back on March11th. The fact that the stock made a powerful gap above the top [...]
The following trades will be removed from the Active Trades- Long category and re-categorized as Completed Trades. All but one of these are gold or silver stocks in which I had previously stated my preference for taking profits at the first targets as I suspected that the breakout on the mining sector would be sold into early. Most did hit those initial targets, offering the chance to take full or partial profits but all have pulled back sharply since then and may likely continue lower before putting in a more lasting bottom. SSRI: Hit T1 (first target) for a 6% gain [...]
The MAKO long trade has now hit the first profit target (13.25) for a 16.2% gain so consider booking partial or full profits and/or raising your stops, depending on your trading plan. For longer-term traders/investors, my preferred target at this time is T3 (the final target at 16.10) although shorter term traders might consider taking partial or full profits anywhere from T1 to T2.
The MAKO long trade is currently clearing the aforementioned 12.30 resistance level. Although only slightly above that level now (current price 12.40), volume is tracking at 6 times average volume so far today, which is a bullish confirmation of the breakout. Keep in mind that this impulsive buying (the stock is currently up 13%) follows the breakdown and recent backtest of the bullish falling wedge pattern shown on this updated daily chart.
Regarding the MAKO active long trade & setup, I noticed on Friday that one of MAKO's key competitors, DePuy Orthopaedics, has issued a recall on it's knee replacement device the LPS Diaphyseal Sleeve. I'm trying to do some digging into how much of a beneficial impact, if any, this might have on sales of Mako's MAKOplasty robotic knee resurfacing robotics and devices. For those interested, the following link can be clicked to view a brief summary on the details of the recall, via Nasdaq.com: Johnson & Johnson Recalls Knee Replacement Device. Again, I am unsure at this point what effect, if [...]