dpuleo19

Steel Partners $SPLP, technicals over fundamentals

Long
NYSE:SPLP   Steel Partners Holdings LP LTD PARTNERSHIP
Steel Partners is one of the leaders in the acquisitions business and with a well diversified portfolio reported an increase in revenue of +18.70%, as compared to the same period in the prior year. Also published an increase in EPS of +24%, but its net income and net margins decreased. This aren't the best fundamental siganls but at least has two quarters in a row with revenue growth.

Now the techniclas have all that I look for. With a IBD RS rating of 99, high volume in up days and low volume in down days, and still in the breakout zone I decided to buy 1/4 of my postion sizing. I decided to start small because the market environment is still bad, and the stock hasn't make a new all time high. I plan to add to my position at the breakout above $38.50 and if it follows through.

I'd like to add that maybe, one of the main reasons of the recent rise of NYSE:SPLP is because of the increase in value of NASDAQ:STCN . Steel Partners holds a 41% ownership.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.