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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
KeeneOnTheMarket.com

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