I’ve already posted this week’s free stalk candidate, but I was rummaging around in my scans and saw something that I just had to pass on…
Why is Regal Entertainment Group so interesting?
- The structure above is 1 of my favorites and is perfectly set up to move higher… It’s essentially
- Over the last year, price visited and bounced off strong support in the $16 area
- Here are some of the Metrics:
- 52 Week High $23.22 or about 10% away
- 52 Week Low $16.32
- EPS $1.19
- P/E 17.85
- Dividend Yield 4.14%
- Market Capitalization: $3.3 Billion
- Short Interest Ratio (Days to cover) 19.1
- Short Percent of Float 20.66%
- Current Weekly Trend: Up
- Relative to TVZ: Above
- Current Relevant Resistance: $21.82
- Current Relevant Support: $19.75
- Recent Close: $21.24
- TAOST Ultimate Stop: $16.00
- Next Report Date: 4 August 2016
Points 6 and 7 are enough to make me think there’s a chance for Regal to explode higher in the near term. Shorts provide some of the best fuel to the upside… and a stock that has almost 21% of its shares lent out for shorts combined with a need for almost a month of trading days (based on average volume) suggests any little thing could put shorts on the wrong side of a big move.
Keep this one on your radar.