Armstrong: Continues to be Range Bound
Armstrong is expected continue to trade in range bound of resistance at $0.465 and support at $0.411. No change in my view since my last analysis.
Armstrong is expected continue to trade in range bound of resistance at $0.465 and support at $0.411. No change in my view since my last analysis.
Armstrong is currently trading almost as the historical high with PE=15 which is fair value compared to past 3 years average of 16.2. There is no catalyst to move the stock price higher unless there is earning surprises or some big good news of this company.
Fundamentally the company is OK base on FY2009 Financial Report:
Armstrong will probably be trading in a sideway from both technical and fundamental perspective.