ARC Harmonics: Shark pattern to 5-0
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ARC Document Solutions , Inc. engages in the provision of document solutions to design, engineering, construction, and facilities management professionals. It offers managed print services ( MPS ), offsite services, archive and information management (AIM), specialized color printing, web-based document management applications, and equipment and supplies sales.
ARC has a good quantitative score around 6 with analyst ratings of strong buy and hold. The dividend is decent at around 2% of the current share value. The target is at 4.41 where a 50% retracement is expected to occur. One could exit completely at the 0.618 extension, short this back down 50%, and then rebuy, since I expect this stock to continue a slow and steady uptrend for the next two years. I would take half profit at extension 1.0 and the other half of profit at extension 1.13; however, one could potentially ride this all the way to extension 1.618. At the most, watch out for price to collide with the weekly 800 ema pictured here to exit the trade completely, if you don't take profit at the first two aforementioned extensions. The first target nets approximately 66% while the second target nets approximately 80%. Adding the dividend and averaging the profit gains, one may see approximately a 74% gain off this trade.
Good luck and trade safely!
ARC Document Solutions , Inc. engages in the provision of document solutions to design, engineering, construction, and facilities management professionals. It offers managed print services ( MPS ), offsite services, archive and information management (AIM), specialized color printing, web-based document management applications, and equipment and supplies sales.
ARC has a good quantitative score around 6 with analyst ratings of strong buy and hold. The dividend is decent at around 2% of the current share value. The target is at 4.41 where a 50% retracement is expected to occur. One could exit completely at the 0.618 extension, short this back down 50%, and then rebuy, since I expect this stock to continue a slow and steady uptrend for the next two years. I would take half profit at extension 1.0 and the other half of profit at extension 1.13; however, one could potentially ride this all the way to extension 1.618. At the most, watch out for price to collide with the weekly 800 ema pictured here to exit the trade completely, if you don't take profit at the first two aforementioned extensions. The first target nets approximately 66% while the second target nets approximately 80%. Adding the dividend and averaging the profit gains, one may see approximately a 74% gain off this trade.
Good luck and trade safely!