Brightpoint to Resume Uptrend, Technicals and Analysts Agree (CELL)

CELL stock has retraced back to the previous resistance level during the uptrend started in late 2009. The 61.8% Fibonacci retracement level between September 2010 low point and January 2011 high coincides at that level as well, while the stock price is trending above the 20-month moving average. Technical analysis favors an uptrend resume of Brightpoint’s stock during summer but stock analysts also agree that CELL stock is one of the technology industry’s stocks with the highest upside potential. What’s more Brightpoint has a price to free cash flow ratio of 5.1x describing it as a fine stock pick, since more often than not companies with the lowest ratio present the greatest value to investors interested in stock trading.


I’ve set a stop loss of $1 and a profit target at $12.5, meaning a 4-1 reward-risk ratio. I need the prediction to be correct just 20% to break even.

Disclaimer: I’m long CELL.