Brocade Communications Systems, Inc. : The bullish trend is not over
Entry price | Target | Stop-loss | Potential |
---|
US$8.18 |
US$9.4 |
US$8.08 |
+14.91% |
---|
The USD 9.4 are in line of sight.
The economic and financial situation of the company is strong. Analysts have revised upward the EPS for 2013 and 2014, +100% for this year, +20% for the next one.
Technical patterns are giving good element for the stock : Flag configuration and daily moving average support. The upward movement should continue in the coming trading sessions only if the share is breaking out the USD 8.3 resistance.
Consequently, investors should buy the stock above USD 8.3 in order to aim USD 9.4. The stop-loss will be fixed below USD 8.1.
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