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Registered User
Joined: 1/22/2007
Posts: 16
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anyone have any thoughts on STP?
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Registered User
Joined: 3/25/2005
Posts: 864
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Concerning STP --
Based on the latest swing low established on 2/8 and the swing high established on 2/6, a target price of 45.05 can be established when using a Fibonacci expansion ratio of 2.618.
Daily S1 support is currently 38.03.
If we were to use this Daily S1 price as our entry price in determining the Reward To Risk of obtaining the target price of 45.05 (mentioned above) then we would get a Reward To Risk ratio of 5.28.
In summary, 45.05 may be achievable short term.
Finally, fundamentally speaking, the company appears to be fairly solid when based on a scale of poor, fair, sound or strong. (IMO).
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Registered User
Joined: 1/28/2005
Posts: 6,049
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It would depend how you want to trade it.
The only problem I see is its approaching
old resistance in the mid 40's
(the old top of early 2006)
Thanks
diceman
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Registered User
Joined: 1/22/2007
Posts: 16
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Thanks for your insights. KEVIN
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Registered User
Joined: 4/3/2005
Posts: 91
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STP appears too choppy for me to swing trade and keep whats left of my sanity. It plays nicely within the upper area of its BBands, so if I were to buy it, I would hold until it violated the middle area so enclosed.
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