Steelcase (NYSE: SCS): Breakout Predicts This Stock is Headed for a Double-Digit Rally

One of my favorite times to trade a stock is just as it's breaking out of a base. If there is a clear, definable stop-loss nearby, so much the better since my risk is limited.
And when the fundamentals support the bullish technicals, the probability that I have found a successful trade is high.
Enter Steelcase (NYSE: SCS), a Michigan-based manufacturer that was founded in 1912. Its first patent was granted in 1914 for a steel, fireproof wastebasket, revolutionary for its time.
At first glance, the company looks like a maker of conventional office furniture and related products. It makes ergonomic chairs, tables, bookcases and cabinets. It also provides LED desk lamps and presentation technology such as interactive whiteboards that fuse analog and digital content. Its products are delivered through a network of independent dealers with 650 locations around the world. (more)

Please share this article