Annual EPS (BNRI)
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Thursday, July 24, 2014
CBS Outdoor America CBSO
I really meant to post this update over the weekend so obviously it’s
not going to have the impact as this stock spiked over 4% today, but I
think there’s more upside in this one to be had. Technically it has a
very clear channel forming and it should have no problem getting back to
the upper trendline. Low float of 22 million will surely add to the
volatility but I think there’s a much better chance of this going over
$37 then revisiting $32. The RSI has been behaving bullishly as it
oscillates between 80-40. 20% of the float is short so as this moves
higher many of those shorts could be forced to cover which again could
add to the upside move. Keep your eye on this for follow through after
today’s move as this thing could just be getting started.
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