Arrow Electronics, Inc. : Buy on crossing
Arrow Electronics is an American provider of products and services for enterprise computing solutions. The company is a supply chain partner for 120 000 equipment manufacturer in 390 locations and 53 countries. Their activities deserve sectors as telecommunication, transportation, medical, industrial and consumer electronics.
From fundamental viewpoint, the company is trading at low price with a price earnings ratio at 8.4x the earnings per share. This one is expected at 5.03 dollars, in weak decline in relation to fiscal 2011 at 5.17 dollars. Next quarterly earnings will be presented on May 8th. Thomson-Reuters'consensus is optimistic with 9 analysts on 11 at “Buy” or “Hold”.
Graphically the stock is in a trading range between USD 39.1 and USD 42.6 since the beginning of the year. He is close to test for the third times its USD 42.6 resistance, steady by 100-days moving average. Stock crossed the USD 41 level, where 20 and 50 days moving averages are situated and evolve now up to these 2 indicators. The crossing of the USD 42.6 resistance would be a buying signal to take a position on the stock with an objective at USD 47.
To avoid the consequences of a decline, a stop loss will be positioned at USD 40.2, below the USD 41 support area.
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