Of late, an acquaintance of mine told me that he picked up ABC. A nice company, and the chart shows that it looks too expensive.
Here the company’s fundamentally strong indicators set the trend. I guess that the firm will have many profitable years ahead. But looking at the chart it seems to me that the company’s shareholders will begin to yield profit after a correction.
In all likelihood, the stock will reach the closest at USD 101. This , it is fair to say, looks too conditional on the weekly chart. And later there will be a threat of the stock sliding to at least the November 2008 of USD 86. So be on the lookout if you intend to go long positions on the name. http://s30707642478.whotrades.com/blog/43633165410