(A Top Pick Nov 23/17. Down 3%.) This is still quite healthy. The intermediate low is at $9. If it stays above $9, you should be fine. He still likes it. When the stock is going sideways after a big run up, it is in a “Trend continuation” pattern. Always think like a Buyer and like a Seller. The Seller's don't want lower prices and are sticking to the high $9, whereas Buyers are quite willing to pay way above $9, so Buyers have more urgency than Sellers, and the next move is more likely Up.
Chart shows a shoulder to shoulder formation. You have 2 years of people who are Long and Wrong, so now it is going lower. The baseline of the shoulders is at around $50, and the stock is now at $47. Unfortunately, we are heading lower. Pipelines are a tough, tough business now. 5.7% dividend yield.
This is a difficult case. The healthy run up on the chart indicates it is bullish, but it has too big a top in relation to the run-up it had. When talking about this company, you have to go back to some basics. They have so many orders, they can't fill them. That creates a concern. He is neutral on this.
The last year on this has been a turnaround story. It has pretty good value and pretty good momentum. It went through a tough patch between 2011 and 2016, tougher regulations, tougher competition. They now have new management, and are rebranding their name. They’re going into infrastructure, factor based exchange traded funds and innovative ideas. (Analysts' price target is $8.75.)