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Why I Bought $ENDP At $11.56 - Verified

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

I have stayed away from Endo International (NASDAQ:ENDP) for multiple reasons (which has been smart) but that ended today when I bought at $11.56. This trade is verified by Verified Investing, a website that tracks every trade I take, allowing investors to follow my exact entries and exits. I took note of large block buys on Endo International intra-day and a strong uptick in volume. This told me there was a potential bottom and strong institutional accumulation under way. It can often can precede big news. In other words the big boys know before the average investor. In addition, I saw Endo International hitting huge support spanning all the way back to 2001-2002 at $11.00-$11.50. Based on their portfolio of products and revenue, these valuation levels are somewhat attractive. When you add in the other factors mentioned earlier to Endo International, I just had to buy some. I kept my position somewhat small to mitigate risk, but the stock is already proving profitable, now trading close to $12.00. The upside target is $16.00, a 35% profit.

Get my trades and view my Verified performance now right, click here.

Investors and traders buy Endo International on stock chart


This article was written by Tony Jackson for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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