ELN our Free Stock Pick for Thu Feb 2nd 2012  

Elan Corp (ELN) has broken out of a rectangular sideways pattern that has contained prices in the 13-14 zone since late December.

Our buy stop entry would be 14.41 for a trade to 14.75 initially and then 15.20. Stop loss would be 13.50.

Sinisa Persich is a technical analyst and author of TraderHR (www.traderhr.com), featuring his daily, small-cap, swing trade set-ups for yielding profits in both up and down markets. Sign up for a Free 15-Day Trial!