Quest Diagnostics On The Rise

It might be time to get long Quest Diagnostics (DGX) as the healthcare company is breaking major resistance levels. The positive trends have been ongoing for a couple weeks and after hitting a low on May 23rd at $57 dollars, DGX rallied up to a high of $62.42 before selling off slightly to its current level of $61.40.

The long-term trend also suggests a continued rise in price as it has come close to its all time high, usually a positive signal for further gains. DGX is trading well above the cloud and is forecast to continue its rise. YTD the stock has outperformed the raging bull market, up 15.29%.

The Trade: Buying the DGX July 65 Calls for $.60

Risk: $160 per 1 lot

Targets: Sell 25% at $.75, Sell 25% at $.90, Sell 25% at $1.10, Sell 25% at $1.30,

Greeks of this Trade:

Delta: Long

Gamma: Long

Theta: Short

Vega: Long

Andrew Keene

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