STA : Looking dangerous

Last week, on Feb 10 we commented : “STA’s recent low at 30.75 is likely to fail, with a subsequent pullback to 28 or so not likely to take long. From 28 next support of note is at 25, and if indeed  it comes off to between 24 and 25 in coming weeks it’ll be worth close analysis, because this stock should manage to post 50+ on the chart late this year or in to 2012.”

The stock hit 29.50 three times this week, and it should fall further. A big sell-off could see the 24-25 range hit shortly, and at such prices we are buyers for a rebound.

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