Heartland Payment Systems, Inc. : We anticipate a reversal
March 11, 2013 at 09:54 am
By
Entry price | Target | Stop-loss | Potential |
---|
US$29.6 |
US$0 |
US$28.6 |
-100% |
---|
The uptrend could resume in the next trading sessions.
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation.
Heartland Payment Systems is in an uptrend in the medium and long term, but the last bearish movement returns close to the USD 29.5 major support. This level is corresponding to the 20 and 50-week moving averages. This configuration should help the security to bounce towards the USD 31.6 resistance.
Investors could take a buy order on the USD 29.5 support level and get a good entry point. The first objective will be the USD 31.6 resistance. Once this level reached, prices should continue their rise towards USD 33.5. A stop loss must be placed below the USD 29.5 support.
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