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| PLAY > New Plays |
Thursday, December 07, 2000 |
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| RKY - Adolph Coors Company $76.56 +1.94 (+1.13) |
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As the third largest U.S. brewer, Adolph Coors holds a 10% share of the domestic beer market through brands Coors, Keystone and Killian's. Currently, the company has 36.87 million shares outstanding with 100 million shares authorized, so a 2:1 stock split is a possibility. RKY is the Adolph Coors "B" shares and have never split, but we feel that this recent breakout to a new high could present a split opportunity. As for the play, RKY shares just broke above their recent high of $76.50 and held on to close at $76.56. What's more, we think the stock looks ready to trend even higher. However, to go higher, RKY will likely need to generate volume of at least 335,000 shares traded. On the downside, we'll look for initial support to come at recent consolidation near $75, bolstered by the 10-dma of $75.18. With earnings still off in the distance (1/18), plan on using hard bounces from support or runs through resistance to place your entries.
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