Sagent Pharmaceuticals Inc : Return to the annual high
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$23.94 | $0 | $23.2 | -100% |
From a fundamental viewpoint, the company is strong. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year.
Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20-day moving average should help to reach the USD 25.35 long term resistance.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible reversal. The first target price is the USD 25.35 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the USD 23.8 short term, threshold that would invalidate this trading strategy.