FEATURED CONTENT

Bull or Bear Market… Doesn’t matter

Kyle Dennis’ new, 5 Min Strategy is poised to double Your Money Weekly!

Michael S. made 173% with Dollar Ace. So can you!

 

Today’s trade: Portola Pharmaceuticals Inc. (PTLA)

Taylor ConwayTaylor Conway ·

The set-up: Last Friday, Portola Pharmaceuticals got an FDA approval for their main pipeline item, BevyxXa. You don’t really need to know what BevyxXa does (it is an oral drug that treats deep-vein thrombosis and pulmonary embolisms) to know that the news sent the shares up 50 percent.

The company said at a conference call that they are expecting a billion dollars in revenue to come in as a result. As a result, Portola was on everyone’s lips Firday, and again this morning.

The follow-up: This morning, pre-market, you had Citibank upgrading PTLA, with a price target of $78 per share. They will not be alone here; there will be more upgrades this week and all of them will have price targets in the $70s.

Note: I’m not in this stock and I’m not going to be. It’s not that I don’t believe my eyes, it’s that I look at the entire market trying to see what’s out there and learn from it, but then I keep all of my trades in my wheelhouse. This is just an opportunity so obvious to me – and perfect for someone looking for a longer-term trade – that I had to say something.

 The play: Buy the stock below $60 per share. I think you will be looking at a $70 stock in the next six to 12 months, if not sooner.

#-#-#

   Taylor Conway is the lead day trader at PennyPro.com. He is a short-term day trader of stocks and ETFs.  At the time this article was published on RagingBull.com, he had no open positions, options or orders in PTLA, has never held a position in the stock, and was not planning to buy or trade it.

You may also like

Exclusive System Tracks Wall St. Insiders

“Dollar Ace Simply Exposes Information That Wall Street Wants To Keep Quiet” Said Kyle Dennis
“One member, Wesley M., has already reported 360%+ gains in just a few short days. Don’t miss this!”
(Reserve Access Now)

“What Recession?!” Jason Bond nets $55,060 in realized profit in One Day

After going 6 for 6 on profitable trades recently, we caught up with Jason to ask how he did it.
Check out Jason’s exclusive interview revealing this tightly guarded strategy. (Watch Now)

RagingBull.com Co-Founder, Jeff Bishop, Launches High Conviction Trade Service

“We listen to our clients and we give them EXACTLY what they want, so we designed a service to deliver 1 trade, 1 time a week, with a 100%+ PROFIT TARGET, directly to your inbox every Monday before the market opens. (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles
START NOW