Let Cerner Fall Into Your Lap

Take advantage of CERN's volatility and buy on pullback

By Sam Collins, InvestorPlace Chief Technical Analyst


Cerner (NASDAQ:CERN) — This leading supplier of health care information technology is in a powerful bull channel that began in November 2010.

We have recommended the stock before. First, on Oct. 21 at about $66 with a target of $75. It made it to over $78 in March, and then ran to a high of over $84 after crushing analysts’ Q1 estimates. Then, on May 21, it was recommended to buy on a pullback to $75 and it ran to over $88.

Now CERN has turned from the top of its bull channel, so try to buy it on a pullback to around $80. Our target is still at $95. Note the high volatility of this stock, which can be an advantage to the trader and long-term buyer. But don’t chase this stock. Let it come to you.

Trade of the Day – Cerner (NASDAQ:CERN)
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Trade of the Day Chart Key

Article printed from InvestorPlace Media, https://investorplace.com/2012/07/trade-of-the-day-cerner-nasdaq-cern-2/.

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