Masco Corp. (NYSE:MAS) — This company manufactures a range of home improvement and building products including faucets, cabinets, coatings and windows, and installs insulation in new homes. Earnings for 2012 are expected to be in the range of 25 cents to 35 cents per share versus 2 cents in 2011.
The Trade of the Day first recommended MAS on Jan. 6, at $11.50, saying, “The stock punched through its 200-day moving average at $10.65, which should result in a quick run to $14.”
On March 21 and March 27, MAS hit our target of $14, and then pulled back on profit-taking. The pullback gives us another opportunity to purchase this stock at a bargain price.
In early February, MAS executed a golden cross (long-term buy signal), and since November, has traded in a bull channel with a bottom at around $12 and top at over $14. Buy MAS now for a trading target of $15.
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