We have been downbeat and sticking to the short side for many of our recent recommendations here at The Correct Call. Today we are going to buck that trend and get positive on a high-growth stock. Sometimes you have to look at the world’s glass as being half full and today is one of those days.

Vnus Medical Technologies Inc. (VNUS) sells medical devices for minimally invasive procedures to treat venous reflux disease, which is caused by poorly functioning vein valves in the legs.

Earlier this month, the company got great news when it raised its royalty revenue estimate for the year by about 10% versus previous estimates. Additionally, the company settled a patent litigation case with Angiodynamics and Vascular Solutions. VNUS will get $9.9 million for past litigation and get royalties until 2017 for endovenous products sold in the U.S.

The stock has been a terrific performer year-to-date, rising close to 50%. The chart still looks wonderful and seems to be building another base in the $20-$21 range. If it can break through $21 on high volume, it should be off to the races on the upside.

The fundamental picture looks bright as well. Earnings estimates soared a month ago due to its legal victory. Analysts now expect the company to earn 92 cents, up from 21 cents per share a month ago. The stock is trading at about 21.7x current-year estimates which is quite reasonable. We see the stock hitting $26 over the next year.

Suggested Stop: $18.34