IRBT is one of the leaders in robotics technology with products designed for both the consumer market and the military. With this broad range of products, IRBT is poised to profit from the growth of the use of robotics in both of these markets. The company has recently reaffirmed 2008 guidance for revenues of $295 - $305 million which is in line with analysts' expectations for the year. More military orders have been received recently. The stock has moved above resistance around $14 and is showing very good relative strength. I would expect the stock to move to next resistance near $18. If volume continues to expand, this resistance area should be penetrated which would allow for a move to the 22 - 24 range. Expectations are for a retest of the all-time high near 35.
$14.89 (08/13/08)
