Newport Corp : Bearish trend should continue
Entry price | Target | Stop-loss | Potential |
---|
$14.01 |
$0 |
$14.7 |
+100% |
---|
In a bearish trend, Newport Corp continues to decline and going to down again.
The fundamental situation of the company remains fragile. Analysts are revising regularly downward their forecasts concerning EPS and Sales for the next two years.
Graphically, we can see that the stock is in a bearish trend with decreasing moving averages, which serve as slant resistance. Since the stock has broke down its majors support (USD 14.2) and now moving towards USD 12.75 in weekly data, the next support area in a mid-term horizon.
Investors could take a short position in Newport to target USD 12.75. They will also place a stop loss above the USD 14.2 pivot point, level that would invalidate our bearish strategy.
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