gingerheadtrader
Long

EW Breakout Play and Reminder:

NYSE:EW   EDWARDS LIFESCIENCES CORP
Its always good to brush up on our trading rules. One rule I live by is that past resistance acts as future support, in case you couldn't tell by the chart! In late June the price was met with resistance at $154. After retracing and testing support again, the stock is ready to try again. If the price does bust above previous resistance @$154 I'd expect a move up to $165 or higher. Earnings on 7/26 could be just the catalyst this thing needs to bring in the volume required for the move up. If earnings are bad though we could very well see a double top at these levels. I've got my eyes peeled with a finger on the trigger for this one.
Comment: Absolutely confirmed breakout! PARTY TIME!
Comment: Holy smoke batman this thing got crushed by earnings #'s. Looks like it found support at $142. It'll be interesting to see what happens from here.
I like this play...have an eye on this. Been following this for sometime.
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