Bargain Stock #5
Accuride Corp. (ACW) is a North American autoparts manufacturer that specializes in commercial vehicle wheels, wheel-end components and assemblies, and ductile and gray iron castings. Coming off of a 125% earnings surprise last quarter, Accuride will again report at the end of April. Another positive surprise could send the stock soaring, and ACW’s chart suggests a bullish event is in store for the near future.
As of the April 9 close, a bullish Symmetrical Continuation Triangle pattern emerged on ACW’s chart, which gives the stock potential to climb from $4.79 to a target of $5.60 to $5.80 in just about 17 trading days.
Both the stock and the options chain for ACW are relatively thin, so keep positions small and use only very speculative money as the market may easily get imbalanced.
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