Buffalo Wild Wings : Back on its bullish trend?
November 27, 2012 at 08:05 pm IST
By
Entry price | Target | Stop-loss | Potential |
---|
$72.01 |
$0 |
$68.3 |
-100% |
---|
Buffalo Wild Wings’s share price was heavily penalized and is now in an oversold situation near to a solid support area.
Technically, the stock is coming back close to the lower limit of a large range USD 70.45/89.
Moving averages are downward oriented and technical indicators illustrate the oversold situation. The USD 70.45 area could cause a positive reaction for the coming trading sessions and allow a technical rebound towards the USD 78.3 mid-term resistance at first and then the long-term target price is USD 89.
The trading strategy can benefit from the proximity of the strong support currently tested in order to buy Buffalo Wild Wings in a good timing. The potential gain is 8.7%. Investors might place a stop loss order at USD 68.3 in order to avoid important losses.
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