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Tuesday, April 13, 2010

New Buy: HITK

I usually do not like to buy stocks that have been moving up and up recently, but in this case I would make an exception.

Technically HITK looks like having failed a head and shoulders (that often results in a continuing trend). Slow stochastic just gave a buy signal.
In addition to that the company fundamentals look very good: better value than industry (PE less than 10), good quick and current ration, no debts, high profitability and effectiveness. And finally, a good growth.

I would suggest to place a 1% trailing stop buy order after 10 AM. Initial stop loss at $20.84.


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