The price has been falling since early 2017 from the peak around $88.00.
This drop has been a "healthy" one as we are seeing this as a correction for a longer term accumulation to the upside.
Some quick fundamentals to support the upside -
1) Revenue has been increasing for the past 5 years;
2) Net income has been increasing for the past 5 years;
3) Dividends have been increasing for the past 5 years;
4) FCF has been fluctuating up and down, but has greatly increased for the TTM; and
5) Net margin has been increasing for the past 5 years.
On the technical side of analysis, $66.50 to $68.62 present a very decent area for accumulation, potentially towards $75.59 and $77.23.
We are looking at this setup as a potential dividend play trade as well, which mean we are interested to hold on to this trade for a longer term.
**This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
This drop has been a "healthy" one as we are seeing this as a correction for a longer term accumulation to the upside.
Some quick fundamentals to support the upside -
1) Revenue has been increasing for the past 5 years;
2) Net income has been increasing for the past 5 years;
3) Dividends have been increasing for the past 5 years;
4) FCF has been fluctuating up and down, but has greatly increased for the TTM; and
5) Net margin has been increasing for the past 5 years.
On the technical side of analysis, $66.50 to $68.62 present a very decent area for accumulation, potentially towards $75.59 and $77.23.
We are looking at this setup as a potential dividend play trade as well, which mean we are interested to hold on to this trade for a longer term.
**This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.