Thursday, November 18, 2010

Nov 18: Markets poised for advance

As for markets prepare for an advance from the short-term oversold level that has resulted from the last fortnight's shedding of risk, I'd like to briefly point out a firm with a strong story: Textron.

The maker of Cessna aircraft and Bell helicopters has received a boost to its business from Chinese lifting of restrictions on civilian aircraft. (For instance, see "China to open airspace to civilian aircraft", FT, 11/15). Yet, the stock has barely registered any upside from this news, and furthermore, closed yesterday at a quite attractive price level v/v technical analysis considerations. The chart follows:

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