We’re going to take a look at this company use only technical analysis, as the chart can provide a variety of information. However, I do not recommend using strictly technical or fundamental analysis, but rather a mixture of both.
The chart has show that is broke a resistance area between $25 and $26, which had been tested multiple times. Price did eventually end up breaking the resistance area, but did so on falling volume. After the breakout, price went sideways, creating a support level that has been tested twice, around the $28.50 area. It currently is in a range and this might be a great time to pay close attention because a break in either direction could signal a profit potential. So in the current situation, I would recommend waiting for price to break out of the current channel, which then could provide a larger movement in one direction.
Valuation Drivers Correlation
|Time Horizon||30 Days Login to change|