This Stock Is Turning BULLISH, Short-Term
A modest dip to re-test the low made recently is probable. But after that a much larger UP swing is expected. This is a BULLISH quick trade.
Upside Target: >= $126
Time Frame: About One Week Or Less
Upside Profit Expectation: $9-$11 per share, depending on your buy price limit.
It is likely that this stock will overshoot the aforementioned upside target. However, I'll be conservative and simply be satisfied with the bulk of the short-term up swing, and leave some profit on the table. If you're a day trader, you can probably even capture that potential additional upside gain, but I am too lazy to bother. Not that I cannot day trade, as I can, often picking intra-day tops and bottoms, but it's an order of magnitude more effort.
To be fair, I also consulted the forecast for this stock provided by ForecastS.com, but the extra interpretation and the somewhat refined target price expectation are based on my own review of the price chart for the stock.
The price gap between $124 and $126 made on 8-28-2008 will be filled in this upswing.
Forecasts are for your informational purposes only. Past performance is no guarantee of future results. Forecasts are not trading advice or recommendations. Always do your own stock research and due diligence. Be sure to consult qualified investment professionals.
$118.86 (08/29/08)
