OfficeMax Incorporated : A well-established uptrend
OfficeMax Incorporated has still an uptrend and is going toward its highest level.
|| 02/12/2013 | 10:23am
Opinion : Bullish above USD 10.5
Target price : USD 11.2
Stop loss: USD 10.15
Business Support Supplies
From a fundamental viewpoint, the company is strong. It has a reasonable valuation with an EV/Sales ratio of 0.09x. The Thomson Reuters consensus revised upward EPS estimates for 2012 from USD 0.54 in February to USD 0.77 in the same month in 2013.
Technically, the security shows a bullish configuration on all time scales. Prices bounced on the 10.5 short term support and have just exceeded the 20-day moving average. This configuration should allow the stock to reach its USD 11.20 resistance.
According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the USD 11.20 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed at the USD 10.15.
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