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JimVanMeerten (56.62)

ScanSource buy signals



July 05, 2011 – Comments (0) | RELATED TICKERS: SCSC

Today on Barchart one of the growth stocks with the most consistent price momentum is ScanSource (SCSC).  Analysts predict double digit growth in both sales and earnings and the stock is up in 16 of the last 20 trading sessions and has gained 19.62% in just the last month.

Barchart technical indicators:
1 - 60% Barchart short term technical buy signals

2 - Trend Spotter buy signal

3 - Trades above its 20, 50 and 100 day moving averages

4 - 16 new highs and up 19.62% in the last month

5 - Relative Strength Index 75.71% and rising

6 - Trades around 38.49 with a 50 day moving average of 35.16

Summary:  If and when the world wide economy recovers retail business both new and existing will be buying point of sales equipment and software.  With new acquisitions and increasing market share ScanSource (SCSC) should do will.  Your portfolio should include stocks with double digit projections of increases in both sales and earnings with positive price momentum.

Jim Van Meerten is a Marketocracy Master

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