Sucampo Pharmaceuticals, Inc. : The bullish trend is not over
Entry price | Target | Stop-loss | Potential |
---|
US$24.47 |
US$0 |
US$22.3 |
-100% |
---|
The USD 28.3 resistance is in line of sight.
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. Moreover, the same situation can be observed concerning EPS which are regularly revised upward.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
According to both technical and fundamental elements, it seems opportune to open a long position at current prices. The bullish trend should allow the security to reach the USD 28.3 resistance. If the stock crosses it, a new target price will be set.
A stop loss will be placed under the USD 23.6 short term support to avoid a downtrend.
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