Exfo is a buy
COMPLETE ARTICLE AND MORE GRAPHS
This morning on Barchart I screened for stocks selling under $10 that were hitting the most frequent new highs in the last month and discovered Exfo (EXFO) a company that makes diagnostic and testing equipment for the electronics industry. I added it to the Barchart Van Meerten Speculative portfolio based on its price momentum and sales and earnings projections.
Barchart technical indicators:
1 - 40% Barchart technical buy signal that is strengthening
2 - Trend Spotter buy signal
3 - Above its 20, 50 and 100 day moving averages
4 - 15 new highs and up 37.29% in the last month
5 - Relative Strength Index is 65.14% and increasing
6 - Barchart computes a technical support level at 7.85
7 - Recently traded at 8.10 which is above its 50 day moving average of 7.16
Summary: I added Exfo (EXFO) to my Speculative portfolio based on both its price momentum and very favorable projections of increases in sales and earnings. When at all possible find stocks that have not only positive price momentum coupled with double digit sales and earnings increase projection but have positive sentiment with both the professional and individual investors. This stock clears the hurdles on all those criteria.
Jim Van Meerten is a Marketocracy Master