After a beat and raise on the 1/31 earnings report it popped initially, but then gradually gave it all up and dropped back to the $25/$26 consolidation level that first came into play in 9/17 following an impressive run.
I think that valuation (fwd PE < 10) and the relatively long consolidation phase provide ample support at this level. This is not a fast mover, but I feel it's worth a shot. My target is around $28.
I think that valuation (fwd PE < 10) and the relatively long consolidation phase provide ample support at this level. This is not a fast mover, but I feel it's worth a shot. My target is around $28.
Comment:
Clearly this has not worked out at all, so far. Along the way I have cut the position twice and am now waiting for it to gain some strength, before possibly adding back to it.