is a $454.3 million healthcare company that designs, develops, and sells medical radiation systems for the treatment of tumors in the body.
ARAY broke out on Monday to close at its highest level since the first two trading days of 2013.Volume soared to 3.6 million shares, 4 times its normal daily volume.
ARAY appears ripe to challenge the top of gap support left from the early January gap lower near the $6.75 level.
Its daily MACD is just beginning to turn back higher and we’re not quite overbought.
Tom’s Take: Therefore, we like entry at the current price and again at $5.90, with a closing stop beneath $5.70 and a target of $6.75. There is some additional risk as they are in the same space as Intuitive Surgical (ISRG), which issued an earnings warning about a week ago.– Tom Bowley, Invested Central
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http://dailytradealert.com/2013/07/16/trade-of-the-day-for-tuesday-716/
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