A Foursquare Trade in Cubic Corp.
02/12/2009 1:18 pm EST
Cubic Corp. (CUB) - This defense electronics and transportation fare collection systems maker fell from more than $50 in 2007 to less than $18 last year.
But since the October low, CUB has established a chart pattern that is close to perfect with a clear cup-and-handle formation, a gold cross (where the 50-day moving average crosses through the 200-day moving average), a strong buy signal from the stochastic, and a string of positive signals from our own internal indicator, the Collins-Bollinger Reversal (CBR).
The target for CUB is now $42.
By Sam Collins of OptionsZone.com