West Fraser Timber Co. Ltd. : Still a great upward potential
January 28, 2013 at 08:16 pm IST
By
Entry price | Target | Stop-loss | Potential |
---|
CA$82.28 |
CA$0 |
CA$79.8 |
-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.
Technically, the security shows a bullish configuration on all time scales. The general bullish trend of stock markets and good sales are important elements to explain why this share is skyrocketing.
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 CAD 87 resistance. A stop loss will be set under the CAD 81.8 pivot point to avoid a downtrend.
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