Is This A Bottom & Reversal?
This is a Post from the Symbol Surfing Blog from Wed, Jul 11, 2018.
I bought a few shares of this low pe stock today.
Before I explain why, check out their brands on newellbrands.com.
You'll see extremely popular brands like Graco, Sharpie, First Alert and Contigo.
This stock basically was cut in half over the past 12 months.
The 52 Week High stock price is $47.53 set on Wed, Sep 6, 2017.
The 52 Week Low stock price is $22.60 set on Fri, Jun 1, 2018.
Mainly it was disappointing earnings.
What I have highlighted is the sideways trading range over the past 6 months.
You'll see that the 2 most recent earnings have seemed to stabilize the stock price.
At this point, sideways is good.
Also, the stock price dipped to a new 52 week low, but relatively quickly ramped back up to the top of the trading range while crossing the 50-day moving average.
This looks like a bottom and possibly the beginning of a reversal.
I am looking for a move to $30 which would be a nice $2.50 profit.
If I am wrong, the stock could move lower to the bottom of the trading range.
Fortunately, this stock pays a 3%+ dividend yield and a strong dividend payout history.
The next big planned announcement is earnings on Friday, Aug 03, 2018.
Maybe NWL will be in a position to beat the lower earnings estimates for an upside surprise.
Mark your calendar!
What do you think about "Is This A Bottom & Reversal?"?
Let me know in the comments section!
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