Rentech Nitrogen Partners LP : Continuation of the bullish trend
November 14, 2012 at 09:59 am EST
By
Entry price | Target | Stop-loss | Potential |
---|
$38.72 |
$43 |
$39.5 |
+11.05% |
---|
Rentech Nitrogen Partners could exceed its USD 40 resistance.
The company’s fundamentals are still strong. Sales are up 25% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.
Technical patterns are in the green: prices are up for several months. The reversal should continue in the coming trading sessions. The 20-day moving average should help to reach the USD 40 long term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance.
In consequence, investors can take a long position above the USD 40 in closing price to target USD 43. A stop loss will be fixed under the resistance at USD 39.5.
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