Opinions
Brooke Thackray
Resolute Forest Products
RFP-T
WATCH
Mar 01, 2021
It has not done anything special except to be in the right place at the right time. There was a huge demand pick up for lumber. Lumber has a strong seasonal period. Lumber companies and home builders tend to under-perform starting now. Given the run in this one he would put a trailing stop on it.
$12.180
Stock price when the opinion was issued
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COMMENT
Forest products and home builders have done quite well over the last little bit. We are in the seasonal period for forest products and home building until the beginning of February. Charts looks positive. There is no resistance, the next level of resistance is around $20 or so. This is more of a momentum play at this point. From a seasonal perspective, he would look at getting out in early February unless it falls apart in between. Right now, we have strong technical profile, rising and no resistance, and also we’re in the seasonal period for it.
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