Analysis: With a forward P/EG ratio of .91, recently streamlined operations, reasonably debt levels, and upward analyst earnings revisions, CNXTâs stock appears very favorably positioned for price appreciation. Furthermore, the technical picture is equally attractive; the stock has formed a symmetrical triangle after running through resistance on excellent volume. Key Levels: Stop buy: 7.36, just above todayâs high; the stock has already broken through the symmetrical triangle high (7.24), and triggered a technical buy. Stop loss: 6.87, a penny below the low of the unfilled gap between Tuesday and Wednesday. Target: 8.74, just below the target formed from the breakout point of the symmetrical triangle times two, less the breakout point from the reverse head and shoulders pattern. ...thanks for the trust you've shown in me and my business.
FWIW, the guy who takes Cramer's action alerts here at our office said he (Cramer) booked some profits in CNXT yesterday. I don't take his stuff myself but the guy that does reads it out when the emails hit and he's nailed some stuff recently. Likes to sell or buy into strength and weakness like he's still trading those big blocks, LOL ...its been working for him though.