Cooper Tire & Rubber Company : We anticipate a reversal
By Maxime Nonglaton
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$16.27 | US$0 | US$15.9 | -100% |
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. Based on current prices, the company is valued at 0.26 times its sales. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of 2.23 USD per share for the current year.
The security is in bullish trend in the medium and long term. In weekly data, moving averages are well-oriented. In the present configuration, the process is very gradual. It could be interesting in the coming sessions. A reversal might happen upon contact with the significant USD 16.1 support.
Investor should take a long position in Cooper Tire & Rubber close to USD 16.1 to take advantage of a new upward acceleration in the direction of USD 17.9. A stop loss is placed under USD 16.