BPOP our Free Stock Pick for Mon Dec 13th 2010  RSS

by Sinisa Persich, TraderHR.com, Sun December 12th, 2010

Popular Inc. (BPOP) has been trading in a tight 2.70-3.00 range in the last few months with a couple of unsuccessful attempts to break a key resistance level in the 3.00-3.05 area.

Finally on Friday, the stock broke through, closing at the highest price since May, and thus confirming new momentum, which could move stock into the 3.40-3.60 area.

Preferred entry (buy stop) price is 3.16, with a stop loss at 3.02. See our Trading Rules page for more detail.