arelkin
Long

ATHN - Breaking Out of Flag after Consolidation.

BATS:ATHN   ATHENAHEALTH INC
80 0 0
ATHN             is in the process of breaking out of a bull flag after a big move to the upside. 8 dma has been reclaimed after a test of the lower trend line , supported by the cloud as well. I'm looking for a move through swingpoint resistance at $137.87 and promptly back to previous highs at $144.42.

Relative Strength is strong at 89.1

For a short term move I like Jan $140 calls. Calls get exponentially more expensive when looking out to Feb expiration so call spreads are a better alternative and still provide a great risk/reward.
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