August 1, 2012 (InvestorIdeas.com Newswire) eResearch Corp reports: Rogers has higher targets.
Rogers traded in a horizontal trading range between $27 and $33 for most of 2009 (dotted lines), rallied to a high of $41.64 (A) and then settled in a large trading range between $34 and $40 (dashed lines). Recent price action (B) suggests the stock could be on the verge of a breakout from this large area of accumulation; a sustained rise above ±$41 would signal this and higher targets.
Technical indicators including the rising 40-week moving average and the MACD (lower panel) confirm the bullish status. A decline below $37.00-37.50 would suggest additional base building is equired.
Published at the Investorideas.com Newswire - Big ideas for Global Investors
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