CLARCOR Inc. : A new bullish target
Entry price | Target | Stop-loss | Potential |
---|
$58.36 |
$0 |
$55.95 |
-100% |
---|
Clarcor accumulates both good fundamental and technical qualities to take a buyer position.
The U.S industrial equipment specialist has recently seen its perspectives revised upward and the consensus largely remains on “Hold” but the average target price is close to USD 63. The American group is finalizing its merger with Stanadyne Filtration Business to increase its growth potential.
Technically, the stock has just completed a secondary phase of consolidation in a main bullish movement. Prices rebounded repeatedly when in contact with an oblique formed during the recent upward trajectory. Therefore, a purchase can be set up to take advantage of an upcoming acceleration towards the recent highs at USD 64.60. However, the position will be protected in case of recovery failure under USD 56.
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