This thread takes over from the preceding one, where we suggested to go long at 30 with a target at 34.50 - REACHED.
Over the course of the past quarter, we have seen slow sequential improvement in AUMS
The industry overall is doing better, in an environment where market conditions have been improving
EXCELLENT TECHNICAL BEHAVIOR
SIMPLE REBOUND STORY?
Inexpensive stock (P/BV=0.75) bullish consensus (BUY) and 25% target upside.
Has found a gently up-sloping channel since Feb 2016.
Currently trading at the bottom of channel.
Shows technical signs of turnaround.
Has rebounded less than the market.
Seems to have found a floor at $28.
PLAIN VANILLA LONG STRATEGY
Buy at the market.
LM reached a high of $140 in 2006 before plummeting to almost $10. Since then we have seen price bottom out (forming a cup and handle on the weekly chart) and begin a bullish wave up. During August and October a double bottom formation occurred - confirmed in November with a break of the neckline.
The weekly double bottom presented itself on the daily chart as a...