This article was posted on Wednesday, 20:50, UTC.
Wabtec (WAB): Short-Term Buy
// -- Discuss and ask questions in our community on Workplace
. Don't have an account? Send Jonas Borchgrevink an email -- //
WAB 4-Hour Chart Analysis
On June 22, we covered the stock in an analysis with both long- and short-term trade options. Today the short-term recommendation got triggered, so we reiterate our bullish view on the stock.
Wabtec commands a higher P/E compared to its peers and the S&P 500 due to its strong historical performance and a strong management.
For the short-term momentum traders, we recommend a buy at $90 with a stop loss at $84 and a likely price target of $102.
For the longer-term traders, we advise a buy on dips closer to $83 and $78 with a stop loss of $72 and a target of $104 and higher.
Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.
Feedback or Requests?
Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use technical analysis for momentum trading and fundamental analysis for long-term positions. Rakesh likes to keep himself fit by lifting weights and considers himself to be a spiritual person.