Lindsay Corporation : Technical rebound on USD 73.2
April 22, 2013 at 02:15 pm
By
Entry price | Target | Stop-loss | Potential |
---|
US$74.71 |
US$0 |
US$70.5 |
-100% |
---|
In the past few sessions, Lindsay Corporation shares have suffered from a sharp fall and is now coming back on significant support area.
From a fundamental viewpoint, EPS estimates for the two coming years have been revised upward by analysts. This positive fact opens the way for a better evaluation of the security by investors.
Lindsay Corporation is oversold near to the USD 73.2 support area. This situation gives credit to a potential technical rebound. Thus, the stock could find new energy and would rise towards the next USD 82.3 resistance.
The trading strategy can benefit from the proximity of the strong support area in daily and weekly data. The target price is set at USD 82.3. Investors might place a stop loss order below USD 71.1 in order to avoid important losses.
The content herein constitutes a general investment recommendation, prepared in accordance with provisions aimed at preventing market abuse by Surperformance, the publisher of MarketScreener.com. More specifically, this recommendation is based on factual elements and expresses a sincere, complete, and balanced opinion. It relies on internal or external data, considered reliable as of the date of their release. Nevertheless, this information, and the resulting recommendation, may contain inaccuracies, errors, or omissions, for which Surperformance cannot be held responsible. This recommendation, which in no way constitutes investment advice, may not be suitable for all investor profiles. The reader acknowledges and accepts that any investment in a financial instrument involves risks, for which they assume full responsibility, without recourse against Surperformance. Surperformance commits to disclosing any conflict of interest that may affect the objectivity of its recommendations.