Trade Alert: Bjs

M

michaelscott

I just looked at the chart. Two scenarios come to mind:

1) Thats a double top sell signal in the top Bollinger Band combined with a classic triple top sell signal over the last few months. It reached this level three times and the next stop is down to 24 dollars after it breaks the support.

OR

2) Its going to power through the triple top ceiling and the next stop is 30.

What do you think? 30 before 24 or 24 before 30?

I bet 30 before 24.
 
It must get over 28.65 which is the intraday high set in February...

28-Mar-07 28.44 28.47 27.76 27.83 5,866,300 27.83
27-Mar-07 28.10 28.30 27.94 28.17 4,600,400 28.17
26-Mar-07 28.20 28.50 27.74 28.41 6,320,600 28.41
23-Mar-07 28.05 28.15 27.76 27.95 5,545,800 27.95
22-Mar-07 27.16 27.78 26.94 27.74 10,988,400 27.74
21-Mar-07 26.63 27.15 26.33 26.76 8,309,800 26.76
20-Mar-07 27.43 27.53 26.24 26.62 12,620,200 26.62
19-Mar-07 27.35 27.83 27.26 27.36 5,920,800 27.36
16-Mar-07 27.35 27.45 26.81 26.99 5,126,200 26.99
15-Mar-07 27.54 27.64 27.10 27.20 4,413,800 27.20
14-Mar-07 27.25 27.51 26.77 27.48 5,335,400 27.48
13-Mar-07 27.60 28.01 27.07 27.12 4,847,100 27.12
13-Mar-07 $ 0.05 Dividend
12-Mar-07 27.55 27.67 27.18 27.56 5,560,300 27.51
9-Mar-07 28.59 28.60 27.74 27.85 5,958,900 27.80
8-Mar-07 28.49 28.55 27.91 28.46 10,035,800 28.41
7-Mar-07 26.96 28.35 26.80 28.14 12,102,100 28.09
6-Mar-07 26.23 27.12 26.16 26.95 7,721,700 26.90
5-Mar-07 26.01 26.47 25.85 25.88 5,937,000 25.83
2-Mar-07 26.82 26.95 26.14 26.46 5,508,800 26.41
1-Mar-07 26.59 27.16 26.20 26.77 6,356,200 26.72
28-Feb-07 27.34 27.40 26.64 26.80 6,385,500 26.75
27-Feb-07 27.06 27.58 26.51 26.97 7,720,700 26.92
26-Feb-07 27.69 27.99 27.53 27.72 4,068,400 27.67
23-Feb-07 27.65 27.84 27.24 27.42 4,208,300 27.37
22-Feb-07 27.03 27.59 26.96 27.49 4,742,400 27.44
21-Feb-07 26.67 27.16 26.60 27.11 5,040,700 27.06
20-Feb-07 26.61 26.94 26.52 26.78 4,289,800 26.73
16-Feb-07 26.76 27.02 26.61 26.95 4,656,900 26.90
15-Feb-07 26.73 26.88 26.50 26.71 7,290,200 26.66
14-Feb-07 27.15 27.33 26.75 27.00 6,228,100 26.95
13-Feb-07 26.72 27.23 26.69 27.16 5,056,100 27.11
12-Feb-07 27.00 27.00 26.58 26.65 5,311,100 26.60
9-Feb-07 27.65 27.78 27.00 27.16 5,822,700 27.11
8-Feb-07 27.53 27.72 27.16 27.51 7,461,800 27.46
7-Feb-07 28.07 28.27 27.42 27.57 5,601,100 27.52
6-Feb-07 28.59 28.65 27.85 28.05 5,843,400 28.00
5-Feb-07 28.05 28.63 28.00 28.30 6,127,800 28.25
2-Feb-07 28.18 28.18 27.63 27.89 5,673,200 27.84
1-Feb-07 27.72 28.00 27.37 27.69 8,029,500 27.64
31-Jan-07 27.44 27.90 27.25 27.66 7,548,200 27.61
30-Jan-07 26.75 27.80 26.61 27.54 10,971,900 27.49
29-Jan-07 26.55 26.92 26.24 26.52 6,223,400 26.47
26-Jan-07 26.73 27.09 26.28 26.70 7,947,800 26.65
25-Jan-07 27.04 27.60 26.63 26.73 14,500,400 26.68
24-Jan-07 27.63 27.97 27.10 27.96 6,897,800 27.91
23-Jan-07 27.07 27.80 27.00 27.64 7,387,100 27.59
22-Jan-07 26.88 27.06 26.52 26.70 6,876,200 26.65
19-Jan-07 26.39 26.77 26.09 26.48 8,912,700 26.43
18-Jan-07 26.75 26.87 26.07 26.22 9,074,900 26.17
17-Jan-07 26.01 26.63 25.95 26.56 8,842,800 26.51
16-Jan-07 26.07 26.38 25.80 26.01 8,657,700 25.96
12-Jan-07 25.75 26.47 25.75 26.28 12,783,000 26.23
11-Jan-07 26.10 26.99 25.55 25.60 13,989,300 25.55
10-Jan-07 25.89 26.46 25.76 26.12 12,966,400 26.07
9-Jan-07 26.07 26.43 25.78 26.05 12,501,500 26.00
8-Jan-07 27.15 27.38 26.55 26.64 8,838,100 26.59
5-Jan-07 26.70 27.03 26.30 26.77 8,945,100 26.72
4-Jan-07 27.90 28.11 26.65 26.70 16,972,200 26.65
3-Jan-07 29.00 29.10 27.83 28.11 11,518,700 28.06
 
BJ Services Co. (NYSE:BJS) calls active at low implied volatility on M&A chatter.
BJS, a provider of pumping and oilfield services for the petroleum industry, is recently up $0.51 to $27.24 on unconfirmed chatter Halliburton Co. (NYSE:HAL) is interested in BJS. BJS has a market cap of $7.9 billion with long term debt of $499 million. BJS reported annual 2006 sales of $4.3 billion. BJS call option volume of 15,700 contracts compares to put volume of 1,923 contracts. BJS April option implied volatility of 32 is below its 26-week average of 35 according to Track Data, suggesting decreasing price risk.
 
It didnt want to get above 28.50 today. When it hit the line, then it pulled back with conviction. To be fair, the $OSX was down 1% so that didnt help things out.

Im afraid if it cant get above that line then we are not going to see 32 for a while. With the quick rise in oil and all the hooliganism in Iran, one would think BJS is a screaming buy. Barons, Forbes and the rags are pumping it with articles each week.

However, that resistance at 28.50 is very strong. I do hope it breaks out over that 28.50 because I hold a little of it too.
 
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