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5 Big Trades to Take for a Fed Taper

Polaris Industries

Shareholders in Polaris Industries ( PII) are having a stellar year in 2013; shares of the $9 billion ATV manufacturer are up more than 55% since the calendar flipped over to January. But even if you missed the move, you shouldn't ignore this stock. PII looks like it's still got higher ground ahead of it.

>>4 Stocks Spiking on Unusual Volume

That's because Polaris is currently forming an ascending triangle pattern, a bullish price setup that's formed by a horizontal resistance level above shares at $137 and uptrending support to the downside. Basically, as PII bounces in between those two technical levels, it's getting squeezed closer and closer to a breakout above $137. When that happens, we've got a buy signal in shares.

Relative strength has been in an uptrend since the start of the summer, a fact that adds some extra confirmation to the trade. Polaris has been outperforming a serious bull market. If you decide to take the $137 breakout, I'd recommend keeping a protective stop on the other side of the 50-day moving average.
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BHP $28.09 1.60%
BRK.B $144.80 0.64%
IBM $147.03 1.40%
PII $89.21 -3.80%
HSP $0.00 0.00%


Chart of I:DJI
DOW 17,726.18 +65.47 0.37%
S&P 500 2,056.47 +5.84 0.28%
NASDAQ 4,730.6690 +13.5750 0.29%

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