Be Careful on the Short Side Because Sometimes Wall Street Obviously Doesn't care about Fundamentals
A weekly close > 5-week MMA of $12.93 targets the 200-week SMA of $19.68
Based on Fundamentals, Titan Machinery is a very overpriced stock. extremely overpriced.
But yesterday the shares were up 20% closing at $12.39 after reporting a mere $6,000 in net income.
A friend of mine tried to short the stock and informed me that there was "NO BORROW AVAILABLE" , which could explain the shares surging higher.
today the stock is up another 5% trading in the $13 range.
With the Mutual Funds owning 85% of the shares outstanding as of June 30,2015 according to Morningstar it appears that the small float and high short interest in the stock are creating a #shortsqueeze.
Be Careful on the Short Side Because Sometimes Wall Street Obviously Doesn't care about Fundamentals
I asked a technical analyst to break down a chart for titan and this is what he shared with me:
A weekly close > 5-week MMA of $12.93 targets the 200-week SMA of $19.68
If you could buy ONE stock on close today which one ? Best gain next Friday's close wins a stocktoberfest.co ticket $spy
— Howard Lindzon (@howardlindzon) Sep. 4 at 02:43 PM
If you could buy ONE stock on close today which one ? Best gain next Friday's close wins a http://t.co/lfccruLQel ticket $spy
— howardlindzon (@howardlindzon) September 4, 2015
The Most Bullish Social Media Video you may ever see.
The Most Bullish Social Media Video you may ever see.
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