I bought my next stock for the StockDoubling Monthly project. Again the monthly project is looking for gains of 10-30% in a stock within 60 days.
I have bought 50 shares of TATTF at $13.47. (Tat Technologies Ltd)))
$673.50 was the cost. (50x $13.40= $673.50)
Good support around $11.40. (I would probably sell below that. So my risk is roughly 15%.)
Resistance around $14.50-$15. If it gets thru that it could get to $19-$20. Undervalued stock I think. I will play it by ear on the exit but I think around $16 is a good shot. With some decent coverage it could be a fast mover.
The problem is it ran up about $1 already this week. A little late getting to the party. It still offers good risk/reward just not as good as it did on Monday morning.
They are even paying a dividend of roughly 3% on current prices. (.40)
I will keep you posted.
It could be a bit bumpy to start with after the run up from the mid $11's. So we may retrace that a bit but I wasn't going to wait for a maybe. I am in and we will see what happens.
TATTF IS THE STOCK I PURCHASED!!
Steve Hoven
alleycatnews@alleycatnews.net
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2 comments:
Just curious what your thoughts are about it's recent price jump in the last two weeks. I can't seem to find any news or press releases that justify the sudden turnaround.
I think that was more chart related than anything.
The stock lost 50% of its value from July to mid Sept. ($22+ to $11+)
The stock price finally filled in the gap it had created back in late Nov. 2006.
There was also some good support in the $11+ range.
So people felt it offered good opportunity at those levels is my thoughts.
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