The price has been falling since early 2017 from the peak around $88.00.
This drop has been a "healthy" one as we are seeing this as a correction for a longer term accumulation to the upside.
Some quick fundamentals to support the upside -
1) Revenue has been increasing for the past 5 years;
2) Net income has been increasing for the past 5 years;
3) Dividends have been increasing for the past 5 years;
4) FCF has been fluctuating up and down, but has greatly increased for the TTM; and
5) Net margin has been increasing for the past 5 years.
On the technical side of analysis, $66.50 to $68.62 present a very decent area for accumulation, potentially towards $75.59 and $77.23.
We are looking at this setup as a potential dividend play trade as well, which mean we are interested to hold on to this trade for a longer term.
**This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
This drop has been a "healthy" one as we are seeing this as a correction for a longer term accumulation to the upside.
Some quick fundamentals to support the upside -
1) Revenue has been increasing for the past 5 years;
2) Net income has been increasing for the past 5 years;
3) Dividends have been increasing for the past 5 years;
4) FCF has been fluctuating up and down, but has greatly increased for the TTM; and
5) Net margin has been increasing for the past 5 years.
On the technical side of analysis, $66.50 to $68.62 present a very decent area for accumulation, potentially towards $75.59 and $77.23.
We are looking at this setup as a potential dividend play trade as well, which mean we are interested to hold on to this trade for a longer term.
**This analysis alone DOES NOT warrant a sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.