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First small cap stock pick i bought in today is ???? which made a solid breakout above its resistance area around 2.75 on increased volume. They reported earnings today of .09eps beating the street estimates of just .06 placing some positive sentiment in favor of this stock in conjunction with a bullish stock chart should result in a easy profitable trade. Analysts are expecting forward earnings .37 giving this stock a future fair value within its industry around 7.94/share given the average earnings multiple is 21.46x.
Im long 2.98. will buy more on a dip near 13ema/9sma if given the chance.
Technical Analysis:
???? made an awesome looking breakout of its symmetrical triangle pattern today following its announcement of nasdaq listing approval which will bring a lot more credibility to this stock and increase trading volume. Besides the awesome looking chart this stock has some awesome forward earnings growth expecting to report 1.39eps next year giving this stock a future fair value around $34/share theoretically. Of course i dont think we will see this price any time soon if ever, but this forward value sets us up for a great short term trade. As price haltecd near resistance around 5.50 i think we could see a short term pullback possibly in this stock maybe at or around $5/share where i want to make a purchase.
