Trade Ideas Newsletter 05/02/2016

STJ is showing significant strength right now

Based on the analysis above in STJ, traders should determine that their portfolio can handle the additional risk from a new position. Also be sure that STJ is not significantly correlated with your existing positions. Lastly, experienced traders never ignore how a new addition relates both to the overall market conditions as well as their existing account. For example, check the S&P 500. Is it trending or stationary recently? Has it moved up or down though key levels? Be sure to matvh up your trading actions on STJ with the overall market so you are fighting the crowd.

CHART

Currently the important sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward STJ. Also, the price action in STJ has been moving up a lot. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.

St. Jude Medical (STJ)

St. Jude Medical, Inc. develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiovascular and atrial fibrillation therapy areas, and interventional pain therapy and neurostimulation devices for the management of chronic pain and movement disorders. Its six principal product categories include tachycardia implantable cardioverter defibrillator (ICD) systems, bradycardia pacemaker systems, atrial fibrillation (AF) products (electrophysiology introducers and catheters, advanced cardiac mapping, navigation and recording systems and ablation systems), vascular products (vascular closure products, pressure measurement guidewires, optical coherence tomography (OCT) imaging products, heart failure monitoring device and other vascular accessories), structural heart products and neuromodulation products (spinal cord stimulation and radiofrequency ablation to treat chronic pain and deep brain stimulation to treat movement disorders).