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Long Accretive Health (AH) At $12.50

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June 20, 2012 – Comments (0) | RELATED TICKERS: ACHI

I jumped in Accretive Health (AH). Had the stock symbol been "AHHH" I would have been much more suspicious of it. Nonetheless, I got in at $12.50 with stop loss at $11.94 and a target which is really as high as it will take me. Because there is a huge air pocket at 12.50 up till $16.50, but honestly I don't like going into  a stock with those knds of lofty expectations. If it goes that high... great, but I don't plan on it. So I just took the difference of my entry and $16.50 and came up with $14.50 (real scientific, eh?). 

The chart pattern is one to fall in love with (just the chart, not the stock). Legal in our chat room spotted it, and I felt it was worth acting on. 

I did get in before that darn FOMC statement, because yes, I kept thinking it was at 2:15pm like is has always been until recently and figured I'd have some time to see it play out before the FOMC...instead I was mistaken. Anyways, if you're thinking of jumping in AH, that's great, but I'd wait for it to re-break the $12.50 level first. 

But at this point, until it bounces back above the 50-day moving average, I'm giving AH a Sinfeld "AHHH" http://youtu.be/Zc9-rYBOS5w?t=53s  :)

Here's the AH Trade Setup

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