Robert Half Int’l (RHI) Can Benefit from Chart and Economy
10/16/2009 12:01 am EST
Robert Half International, Inc. (RHI) is a professional consulting and staffing firm specializing in finance and accounting.
Technically, the stock is bouncing around its 50-day moving average and looks to be testing that level on a daily basis. A strong full candle above that line, accompanied by strong volume, would indicate it could head higher and test the last high set just above the $27 mark back in late September.
In fact, that $27 high has been tested three times since early August. The fourth test may be the charm. If it can break through, there’s not much in the way of it heading to $35.
Fundamentally, as the economy recovers, temporary staffing agencies typically benefit as companies first bring on temporary help to test the waters before hiring full-time employees.
Robert Half would certainly benefit from that trend.By Tim Bourquin, trading content director, MoneyShow.com