|Contributor / Partner
Strategy published on : 07/31/2020 | 10:37
long trade on a pullbackTarget price hit
Entry price : 151$
Target : 177$
Stop-loss : 139$
Cancellation Level : 170$
Potential : 17.22%
The timing appears opportune to go long in shares of The Scotts Miracle-Gro Company as we anticipate another pick-up in the underlying trend.
Investors should buy the stock at current prices near $ 151 in order to target the $ 177.
● In a short-term perspective, the company has interesting fundamentals.
● Considering the small differences between the analysts' various estimates, the group's business visibility is good.
● Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.
● Over the past year, analysts have regularly revised upwards their sales forecast for the company.
● For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.
● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.
● Within the weekly time frame the stock shows a bullish technical configuration above the support level at 117.78 USD
● The stock is close to a major daily resistance at USD 162.52, which should be gotten rid of so as to gain new appreciation potential.
● The firm pays small or no dividend to shareholders. For that reason, it is not a yield company.