By Barrie Einarson

Every so often, a setup shows up on the scanners that has that unmistakable “look” — clean structure, strong catalyst, and plenty of room to run. Today, that standout name was QDEL (QuidelOrtho), and it delivered one of the smoothest all-day trends we’ve seen this week. Before diving into QDEL, it’s worth mentioning the broader market tone. To Subscribe to Trade Ideas: https://go.trade-ideas.com/SHQ
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SPY: A Disheartening Drop, But a Potential Weekend Lift

Yesterday’s SPY action was tough to watch: up 12 points early, only to close 10 points down. That kind of reversal drains momentum and confidence from the market. This morning, however, the tone felt different. There was a quiet but noticeable possibility of a small rally into the weekend if buyers stepped back in.

QDEL: Found on the Gap Scanner at $23.23

The Gap Scanner picked up QDEL around 10:25 AM with an alert near $23.23. Several gappers looked promising, but QDEL immediately stood out.

Why QDEL Stood Out

1. The Daily Chart Looked Fantastic

A quick glance at the daily chart showed clear room above, not cluttered with nearby resistance. It wasn’t about calling for a move straight to $27, but the potential was obvious. When you see that kind of overhead space, you pay attention.

2. Insider Buying Supported the Move

News showed that either the CEO or company directors bought shares after the earnings drop. That kind of insider conviction often signals that the downside has been overdone and confidence is returning.

3. Intraday Action Was Smooth and Controlled

QDEL didn’t just spike — it trended beautifully. The price action offered clean higher lows, strong volume, and steady continuation. It shaped up into a classic all-day hold, the kind traders appreciate for its clarity and predictability.

What Made This Trade Great

QDEL brought together all the right ingredients: a strong gap, room on the daily chart, insider support, and flawless intraday behavior. Add in the timely 10:25 alert, and the setup offered everything a disciplined momentum trader wants. This is exactly the kind of opportunity that defines What Makes This Trade Great.