Canfor Corporation : Opportunity on the bullish trend
By Rosanna Santana
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$29.81 | $0 | $27.9 | -100% |
Its financial situation is encouraging, with sales expected to growth by 7% in 2014 for an increase on earnings by 53%. EPS are revised upward for the current year by Reuters analysts.
The technical pattern suggests a continuing upward trend with 20-day moving average supporting the stock price. Hence, prices may bounce towards the CAD 33.4 midterm resistance once the short term resistance breakout takes place.
As seen, investors could take a long position on Canfor at its current price in order to profit from a climbing, this until reach the target at CAD 33.4. The stop loss is fixed under the pivot point at CAD 28.8.