Big upgrade on IRBT share price released by underground stock alerts* (google them). Made $34k on their last pick so I’m excited about their email report, gonna ride this baby to the high heavens.
should read +80 % institutional ownership, not insider ownership.
wonder if the report (along with the company analyst day) has started some people doing work on the name. it's a heavily shorted name.
From the price action since the earnings report, it appears that most investors either know of the concerns SP has uncovered or do not feel that it's important.
SP tract record is easily viewed on their website and is generally quite good.
Price is attempting to push through the 2011-2012 highs of $38-$39 range. Short interest is more than 25% of the float. Plus, the company is buying back shares. This will fuel the rally this year, plus there just aren't a lot of shares for retailer to scoop up with insider ownership north of 80%. With a 1 billion market cap and a growing housing market, IRBT is a buyout candidate.
There is an inverse head and shoulders pattern in play on the monthly chart. It has a slightly upward sloping neckline which currently sits around $42.50 This is where price is headed very short term. I expect volume to pick up tremendously if this neckline is broken by the bulls. With a low of $16 (tip of head), the measured move is north of $65, fairly quickly. If anyone is familiar with the Andrew's Pitchfork tool for technical analysis, the upper tine will be at $65 in November of this year. Expect a test of this upper tine, as price has gotten comfortable pounding against that center tine for most of the past year.
The shorts will get caught off guard here. Price has just completed a bullish 'outside week' and backtested some very important trendlines last week, which held as support. Risk is to the upside now.
Elliot Wave crowd is calling this a subwave 3 of 3, which is the most violent of moves to the upside. Fresh all time highs will be here in no time. Dips will be very brief as shorts must cover on all of them. Elevator move up in progress. Congrats Longs
Sentiment: Strong Buy
This is fantastic: this sort of analysis is exactly what I’ve been looking at doing myself.