Trueblue’s share price was heavily penalized and is now in an oversold situation near to a solid support area.
From a fundamental viewpoint, Trueblue seems undervalued in terms of enterprise value. Based on the current price, its market capitalization, plus its net debt, represents 0.39 times its revenues.
This valuation is only 14 and 12.1 times the two next years earnings.
Currently the stock is oversold and, in the mid-term, is trading in a bearish trend. In the short term, this trend should reversed upon contact with the USD 21.8 area as a double-bottom is forming. Trueblue should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards USD 25.
The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Trueblue with a good timing. The potential gain is around 10%. Investors might place a stop loss order at USD 21.2 in order to avoid important losses.
TrueBlue, Inc. is a provider of specialized workforce solutions. It operates through three segments: PeopleReady, PeopleScout and PeopleManagement. The PeopleReady segment provides on-demand and skilled labor in a range of industries, such as construction, transportation, manufacturing, retail, hospitality, and renewable energy. The PeopleScout segment provides permanent employee recruitment process outsourcing, employer branding services and management of outsourced labor service providers through the operating segments: PeopleScout Recruitment Process Outsourcing (RPO), which outsources recruitment of permanent employees on behalf of clients and employer branding services; and PeopleScout managed service provider (MSP), which manages multiple third-party staffing vendors on behalf of clients. It also provides talent advisory solutions. The PeopleManagement segment offers contingent, on-site industrial staffing and commercial driver services primarily on-site at the clientâs facility.
TRUEBLUE, INC. 
