STAAR Surgical Shines Bright

Shares of STAAR Surgical (NASDAQL STAA) are jumping higher this afternoon. Currently, shares are higher by 10.60%, trading at $8.76; shares touched an intra-day high of $8.86 before pulling back slightly. STAAR Surgical has been consolidating for the past two months, above the 20-day and 50-day moving averages, but now has its sites set on a five-year high of $9.05. If shares can break that high, $9.50-9.70 is the only major stop on its way toward $11.50. Stock volume is currently running at 1.5x the 10-day daily average. Note that STAAR Surgical has 6.32% short interest. Options spread are too wide and illiquid for trading in this name, which means traders are left with common stock and firm stop losses. Your best bet is buying shares here with a stop loss at $8.47. If shares breech that level, they will likely revisit the 20-day where a long position can once again be reconsidered. STAAR Surgical Company is engaged in developing, producing, and marketing intraocular lenses and other products for minimally invasive ophthalmic surgery. Principal products are IOLs and implantable Collamer lenses.