Trade of the Day: Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN)

ACHN looking for $10 or higher

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I have a new trade today on a name that is showing strength, and I want to play the move with call options.

Last week’s rise above all of the major moving averages was a powerful display of bullishness. Near-term resistance is at 9.25-$9.50, with a move above the latter likely leading to $10 or higher. Fresh support is at $9-$8.75.

I like these call options at current levels, and you can use Limit Orders up to $0.55 to get the best fills.

Buy to open the ACHN August 10 calls (ACHN160819C00010000) for a maximum price of $0.55.

These are the regular monthly options that expire on Aug. 19.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/07/trade-day-achillion-pharmaceuticals-nasdaq-achn/.

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