Ryland Group Inc : The bullish trend is not over
January 07, 2013 at 09:51 am
By
Entry price | Target | Stop-loss | Potential |
---|
US$37.73 |
US$0 |
US$34.9 |
-100% |
---|
The Ryland Group continues its bullish trend in order to test new highest level.
The economic and financial situation of the company is still strong. The EPS previsions have been revised upward for the last months.
Technical patterns are in the green : prices are up for several months. The reversal should continue in the coming trading sessions. The 20-day moving average should help to reach the USD 39.8 short term resistance.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible reversal. The first target price is the USD 39.8 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be fixed under the USD 35.3 short term support, threshold that would invalidate this trading strategy.
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