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4-Traders Homepage  >  Equities  >  Nyse  >  Joy Global Inc.    

JOY GLOBAL INC.
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The USD 52.7 support area is tested

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04/18/2013 | 03:56pm

Joy Global’s share price was heavily penalized and is now in an oversold situation near to a solid support area.

According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.

Technically, the security fell sharply for several days. This fall has led the stock towards the USD 52.7 support area which could become useful as a stepping stone for a technical rebound. The target of this bullish trend is the USD 58.15 resistance. Even though moving averages are still in a bearish trend, the oversold situation could encourage a renewed interest in Joy Global' stock.

Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in order to benefit from the USD 52.7 support area. A first target price will be the USD 58.15 resistance. A stop loss order will be placed under the long term support.


© Zonebourse.com 2013
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Disclaimer: The information, charts, data, views, or comments provided by SURPERFORMANCE SAS are intended for investors who have the necessary knowledge and experience to understand and appreciate the information contained within. These items are disseminated for personal reference only. They do not constitute an offer or solicitation to buy or sell financial products or services, nor an investment advice.
The use of the information disseminated takes place under the investor's sole responsibility, without recourse against SURPERFORMANCE SAS. SURPERFORMANCE SAS will not be liable, whether in contract, in tort, under any warranty, for errors, omissions, improper investments, or adverse evolution of markets.