Ambac Financial Group, Inc. (NYSE:ABK) a Potential Breakout Opportunity?

Ambac Financial Group, Inc. (ABK) is trading sharply higher today, 50% up and near $1.61.

Ambac can be a good breakout value bet, ideal entry level should be considered around the $2 price barrier, as soon as Ambac settles for two sessions or more above this level it can be considered a buy. Option pricing on the underlying can confirm if breakout is in the making.