Catamaran Corp : Resume of the uptrend
Entry price | Target | Stop-loss | Potential |
---|
CA$52.93 |
CA$0 |
CA$50.9 |
-100% |
---|
Catamaran published, on 2 May 2013, its results for the first quarter of the year. Sales rose by more than 87% at CAD 3.2 billion (consensus 3.5 billion) and EPS increased by more than 61% to 0.42 (consensus 0.41).
Sales are expected to skyrocket by almost 90% between 2012 and 2015. Further, analysts from the Thomson Reuters consensus revised upward their EPS estimates for few months.
Technically, the trend is bullish in the long run. However, after publishing mitigated results compared to analysts' estimates, prices came back the CAD 53 short term support, corresponding to the 100-day moving average. Thus, the share may bounce towards the CAD 58.5 medium term resistance.
Most active investors can take a long position at the current price. The main target will be CAD 58.5. A stop loss must be placed below the CAD 53 short term support in order to avoid any downward reversal.
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