CATO has broken above the pivot and so far is holding nicely. The risk of 5% is a bit too much for me but it is holding nicely.
We see bullish divergence on the RSI on a daily time frame. The stock is facing resistance at 0.238 fibo level and if it breaks through we target 11.8 as the first Target (0.382 fib) and 12.9 as the second target (.5 fibo). The latter also nicely aligns with a test of the 100 day moving average. What do you guys think?
A earnings surprise in September has lead to a nice rally which is now in a the process of forming a pennant\flag formation. RSI is in a bullish trajectory. MA 7&12 acting as support. Possible 10% upside on break above resistance. Stock is very fairly valued considering the yield and P/E ratio. Average analysts price target $23 Average analysts...
If/when the price exits the area, may go to close the gap. We are monitoring it.