Expect some upward resistance from about $2.60.....I'm long and don't trade often in and out of shares and, I don't plan to sell a large number of shares anytime soon. 2016 has turned out very well and I can't wait to see Q4 results.
We've had a really nice upward share price push from late October's $1.56 and I believe we will eventually see these shares higher than $3 and $5. But we've got to get trough considerable resistance levels before we stay above $3 and then the $5 level.
I've long used 50/200 days, weeks and months price averages for guidance and I see resistance beginning above $2.60 from the 50 weeks level and suspect that until we can close and hold around $3.00 we will continue to see lots of volatility. This scenario should make some of you day traders real happy....
I also see a solid base here just over $2. I wouldn't count on seeing the near $2 anytime soon, but you never know and we'd need seriously bad news to break that level (just an opinion).
That's not to say the shares can't near term break the $3 or even higher mark - however the next big challenge is to stay above the $3 level and, when we eventually will, the next hurdle will be
just under the $5 mark. Should we then be able to trade and remain above the $5 mark, the shares could well then trade considerably higher.
Much of this potential scenario depens on management execution from both aerospace and rail and, continued above expectations performance levels and, new orders. There is a lot left in these shares but, it's going to require patience, lots of it for another few years. Keep in mind that 2020 isn't far off. Good luck to all!