Yup, this stock is being accumulated. We are above the 50-d-average and it broke through the former resistance of $7.2 , so BXH is in an upward-trend. Next resistance IMO will be $9.2. Relative Strength Index (RSI) is 71.32 which means it's rather overbought, but the current ratings and promising news help this stock to keep moving up.
Currently research analysts tracking BXH rank its shares as a Buy. Based on analysts forecasts, earnings are expected to increase in both this year(0.54) and next(0.72). This is a 20% t0 33% over last years earnings. Next BXH Earnings will be released in the last week of Oct. The mid-sized-computer-components companies profits are generally expected to rise by about 45% in both of the next 2 years.
Market for fibre channel is expected to explode in 99, so there's still potential. The current strategic relationships with the two leading suppliers of IT products and services in South America should also help to increase BHX sales of back-up products even more than currently estimated, IMO.
The Y2K problem helps BXH to increase their sells, 'cause BXH is the leading, full-service provider of high-availability, mission-critical storage and backup solutions for the UNIX and NT market that are bigger, faster and smarter than industry competition.
The PE is also quite good in comparison to compeditors and yes, also IMO, small- and midcaps are coming in greatly.
hope this helps.
best wishes
marc |
