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MAKO Surgical Corp. Message Board

  • tomhaly76 tomhaly76 Jun 14, 2013 4:28 PM Flag

    Mako one of the 5 stocks ready to breakout

    Another stock that looks ready to trigger a potential breakout trade is Mako Surgical (MAKO), a medical device company that markets its advanced robotic arm solution, joint specific applications for the knee and hip, and orthopedic implants for orthopedic procedures. This stock is off to a slow start in 2013, with shares up just 3.8% during the last three months.

    5 Buy Signals in the Health Care Sector

    This company was hit with some bullish news this morning, after Piper Jaffray said clinical data presented this week validates the benefits of MAKO Surgical's knee and hip applications and implants. The company reiterated its overweight rating on the stock with a $23 price target.

    If you take a look at the chart for MAKO Surgical, you'll notice that this stock has been uptrending strong for the last two months and change, with shares moving higher from its low of $10 to its intraday high of $13.28 a share. During that uptrend, shares of MAKO have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of MAKO within range of triggering a possible breakout trade.

    Market players should now look for long-biased trades in MAKO if it manages to break out above some key overhead resistance levels at $13.45 to $14.18 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 939,553 shares. If that breakout triggers soon, then MAKO will set up to re-test or possibly take out its next major overhead resistance levels at $16.28 to $19 a share.

    Traders can look to buy MAKO off any weakness to anticipate that breakout and simply use a stop that sits right below some near-term support at $12 a share. One could also buy MAKO off strength once it takes out those breakout levels with volume and then simply use a stop that sits a comfortable percentage from your entry point.

    This stock is a favorite target of the short

    Sentiment: Strong Buy

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MAKO
29.990.00(0.00%)Dec 16 4:00 PMEST

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