Chemed Corporation : The upward tendency continues
Entry price | Target | Stop-loss | Potential |
---|
$115.96 |
$0 |
$112.9 |
-100% |
---|
Several arguments are in favor of the continuation of the bullish trend.
The company’s fundamentals are strong. Sales are expected to grow by 3.9% for 2015. Analysts from Thomson Reuters’ consensus have revised largely upward their EPS estimates. Earnings per share should increase of about 13%.
Technically, the security is trading in a bullish trend in the short and the long term. Increasing moving averages support this global tendency. There is a recent gap on the chart, due to the release of encouraging earnings. This breakout should boost the stock. The share is currently near a pivot point that acts like a support.
In this configuration, investors may take a long position at current prices and expect arise toward the USD 118.60 short term resistance. A stop loss will be set at USD 112.9.
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