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Encore Wire Corp. Message Board

  • scubasteve38 scubasteve38 May 4, 2006 10:29 AM Flag

    Back for the ride

    Alright, just did a little product analysis and I'm ready to buy back in. Anyone have a good guess of where the resistance lines are?

    Point one -
    Price of 500 MCM THHN on 3/17 2.50 per foot
    Price of 500 MCM THHN today 11.29 per foot

    there was about a 15% price correction immediately after that for this stock

    Point two -
    over the past four weeks the purchase price of wire (the installable kind, not the stock) has increased by 30%. So on the same volume of shipment we are talking a 30% increase in revenue.

    -Scuba

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