Mattr Corp. : The bullish trend is not over
November 28, 2012 at 02:08 pm
By
Entry price | Target | Stop-loss | Potential |
---|
CA$45 |
CA$50 |
CA$44.1 |
+11.11% |
---|
ShawCor is trading in a bullish trend and several arguments argue for the continuation of this trend.
The company’s fundamentals are still strong. Sales are up + 25% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at CAD 0.78.
Technical patterns are in the green: prices are up for several months. The reversal should continue in the coming trading sessions. The 20-day moving average should help to reach the CAD 46 long term resistance.
In consequence, investors can take a long position above CAD 46 in closing price with a first target price at CAD 50. A stop loss will be fixed under the short term support at CAD 44.4.
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