J. Crew Shares Cycling in Positive Trading Channel - Larry Schutts

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J. Crew Shares Cycling in Positive Trading Channel
Apr 02, 2008 09:31 PM UTC

Larry Schutts

Return	Risk
-12.89%	MID

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Symbol	Sentiment	Start	Return	Closed
JCG		04/02/08	-10.26%	--

4/1 - "The company pleased investors last month, when it reported Q4 EPS of 41 cents (ex-items). That topped the average Street estimate by two cents...Management guided FY09 EPS to $1.85-$1.87, versus consensus of $1.83."

"The news kept JCG shares cycling through a positive five-week trading channel. The price is currently consolidating near the base of that channel, suggesting the potential for a rise back toward the top. Correspondence of the stock's 30-day and 50-day moving averages to the base of the channel backs the rebound notion...A stop-loss of $38.35 looks good here."

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