Clean up your portfolio with Steris

• Posted by Greg Harmon
• on November 16th, 2015

The spotlight today turns to another local company, STERIS Corporation ($STE) with their corporate headquarters just 25 miles Northeast of me in Mentor Ohio, along the shores of Lake Erie. This company like to keep it clean. They make hand sanitizer products as well as sterilization units for surgical equipment.

The chart of the stock price is pretty clean too. After a nearly 12 month long consolidation the stock price broke to the upside in late October. It made a big push higher to 77.50 before pulling back in a bull flag consolidation. That is until Friday.

Friday the stock tried to break the flag to the upside and is following through higher Monday. The target on the flag break is a move to 83.50. It has support from the momentum indicators to get there. The RSI pulled back but is reversing back higher in the bullish range. The MACD also pulled back but is leveling and positive.

But this move might just be getting started at 83.50. The move higher into the 12 month consolidation was from about 30 up to 65. This suggests the final result of the move up may be at 100.

Get my ebook, Markets for 2015 and Beyond, a long term forecast with all proceeds going to charity.

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through September 2015 and sign up here

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus