RigNet, Inc. : To new upward targets
Entry price | Target | Stop-loss | Potential |
---|
$36 |
$41 |
$36.4 |
+13.89% |
---|
RigNet continues its bullish rally to test new highs.
From a fundamental viewpoint, despite a high valuation, analysts polled by Thomson Reuters have regularly revised upward the earning per share estimates. Consequently, profitability is improving, showing a relatively good financial health of the company.
From a technical viewpoint, prices are well oriented in a bullish trend on different time scales. This positive trend is expected to go toward USD 37.51 at first thank to the support of the 20-day moving average.
Exceeding the technical line at USD 37.51 would point to ambitious upward targets. In this case, market participants could buy this stock with an initial target of USD 41, corresponding to the trendline. If investors reduce long-side exposure for profit-taking, a bearish trend would happen below 20-day moving average and so this strategy would be invalidated.
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