Graco Inc. : The bullish trend is not over
June 03, 2013 at 02:39 pm
By
Entry price | Target | Stop-loss | Potential |
---|
US$64.45 |
US$0 |
US$61.2 |
-100% |
---|
The USD 69.7 resistance is in line of sight.
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year. The great business predictability emphasize the quality of this investment in the mid-term.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
Investors could take a long position at the current price to target USD 69.7. A stop loss will be set below the 20-day moving average.
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