ACHN, Achillion Pharmaceuticals

[Exactrades]

ACHN is making a gap down into possible support on the daily chart.

Look to take ACHN long on a new high above the open with strong volume. Wait at least 2 minutes after the market opens and look to take it long once it makes a new high of the day. If ACHN moves down at the open, simply set an alert at the high of day and take it long if it breaks that high of day. First target is .06 from your entry, second target is .12 from your entry.

Manage the last piece with a trailing stop. Remember to always use a stop.