Zagg, reversal at 52-week high? Or new high?

This company is worth a watch - Zagg, Inc. ZAGG sits in the Fabricated Plastic and Rubber industry. With oil prices rising, we could see higher earnings in the future for this industry.

Over the past 13-weeks, ZAGG has outperformed the S&P by 76 percent, 95 percent YTD. Its weekly chart shows strength and the stock currently trades at 16 with a 52-week high of 17.20. Be careful with this one. We could see a reversal around that 52-week high.

The stock currently sits on daily s/r levels. I wouldn't short if there is a reversal, only because the fundamentals give a long signal.
Its put/call ratio is at 1.05 with an average of .42, suggesting negative sentiment towards this stock. Which is understandable, given how close it is to its 52-week high.

I'm neutral on this one but it is worth watching.

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.