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Proprietary Indicator Flashes Buy for SXI

Standex International issues CBR buy signal just above bullish support line

   

Standex International Corp. (NYSE:SXI) — This diversified company manufactures a range of products and services for industrial markets. Zacks rates it as a top-value play, and the stock has a forward P/E ratio of under 11.

In its most recent quarter, the company exceeded analysts’ forecasts by 5.2%. Fiscal year (FY) 2012 earnings were $3.39 versus $2.97 in 2011. FY 2013 earnings are estimated at $3.62 per share. The company will announce FY 2013 Q1 results on Nov. 1, before the market open.

Technically, SXI is in a powerful bull market that began early in 2009. It is resting just above its bullish support line at $43 where it recently flashed a buy signal from our proprietary indicator, the Collins-Bollinger Reversal (CBR), and a stochastic buy. It has resistance at a compound top at $47, but if it breaks the top, look for the stock to run to the mid-$50s.

Trade of the Day – Standex International Corp. (NYSE:SXI)
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Trade of the Day Chart Key


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/trade-of-the-day-standex-international-corp-nyse-sxi/.

©2016 InvestorPlace Media, LLC

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