MarketAxess Holdings Inc. : Opportunity to buy close the USD 53 support
By Rosanna Santana
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$53.25 | $0 | $51.4 | -100% |
Sales of platforms designer and marketer rise at a gradual pace since 2008, fueled by an increase of its electronic business. This year it should improve by 11%, performance that should be translated into a better EBITDA. Otherwise, a rise of 14% is anticipated for 2015. Company’s EPS is expected to deliver $2 per share on the ongoing period and $2.34 per share for the next one.
The USD 53 support, valid in daily and weekly data, represents a key level for gearing the actual bearish wave. A double bottom pattern should be formed while the stock climbs progressively until coming close to the USD 59 resistance. A return in prices above the ascending trend line will be the first clue whether a strengthened bullish movement is carried on.
Active investors could take profit of low levels to buy MarketAxess near USD 53, then the target could be set at USD 59. Otherwise, a stop-loss order could be triggered below the support at USD 51.4.