Expeditors International of Washington Inc. : A double-bottom is forming
April 17, 2013 at 09:41 am EDT
By
Entry price | Target | Stop-loss | Potential |
---|
$36.07 |
$39.5 |
$34.4 |
+9.51% |
---|
From a fundamental viewpoint, analysts polled by Thomson Reuters have set an average target price at USD 44, which represents a potential of 22% compared to the current price.
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.
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