Expeditors International of Washington Inc. : A double-bottom is forming
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$36.07 | $39.5 | $34.4 | +9.51% |
Currently the stock is oversold and, in the mid-term, it is trading in a bearish trend. In the short term, this trend is reversed upon contact with the USD 35.3 area. After a rebound to USD 37.05, prices are now back on the USD 35.3 support a double bottom could occur in the next trading sessions.
In this case, a new bullish impetus should drive the stock on the USD 39.5 mid-term resistance. A stop loss will be fixed below the USD 34.8 long term support.