DHR - Danaher Corporation $63.50 -0.19 (+2.44)

Tool making powerhouse Danaher may not be one of our more exciting plays, but it is one of our more profitable ones. Earnings growth for the company has been strong at 24% this year and its shares have performed exceedingly well from the March low of $36.44. Currently, DHR has 141.86 million shares outstanding and is trading within the area of its two most recent splits ($72.31 and $54.50), which makes it a good split candidate. Additionally, the performance of the stock has been extremely good from its last split announcement, gaining 76%. As for our play, the stock just recently broke above its previous high of $64.19 on good volume of 800 thousand shares. A new 52-week high of $64.88 was the result of the move and now stands as the key resistance level to signal a breakout. With that said, we'll look for additional challenges to follow at $70 (near the all time high) and $75. The longer-term trend suggests that the stock remains poised to trend higher but good volume of 430 thousand shares will likely need to accompany higher highs. On the flip side, we'll expect to see support develop at $63 (recent high) and further down at $62, bolstered by the 5-dma of $62.33. Set stops at $60 to protect against a quick reversal of the trend. Consider using strength in the Dow Jones Industrial Average (INDU) to reconfirm your entries.

Picked on November 16th @ $63.50 Change since picked 0.00