Wednesday, 30 April 2014

STX - reasonable results

Despite posting better than expected earnings, Seagate (STX) closed -1.7% @ $52.58 (intraday low $51.38), although had initially jumped higher to $55.23. Price structure remains a multi-week bull flag, with primary upside to the 56/57 zone.

STX, daily

STX, weekly


*I remain long STX, from the $53.50s. Right now, I don't expect an exit until later next week.

Relative to the main market, STX remains under valued, with a forward PE of just 9/10.

see key stats @ yahoo finance

There is little reason why this won't eventually hit the big $100 threshold in late 2015/early 2016.