Monday, January 5, 2009

Best Young Executive for 2008; Best stock for 2009?

Gene Murtagh Jr took the plaudits for the best young executive of 2008 as his company shed 75% over the course of the year. Can he make it a good 2009 for Kingspan shareholders?

Contrary to action in the broader market at the time (summer 2008) Kingspan was able to break through its declining resistance line created from 2007 before it fell with the rest of the market. The former resistance line was successfully backtested in late November before the stock limped through a second resistance line, dating back to the summer, in early December. Since then the stock has meandered sideways looking for direction

Wannabe buyers are likely to wait for €3.46 before volume buying kicks in; set a Zignals Stock Alert for €3.47 or thereabouts to get the jump on when this happens. I have entered a YourCall on Zignals Stock Charts for a push to last summer's highs (€7.99) as a target for 2009 with a stop close to November lows (€2.69).

If you have an opinion on Kingspan and would like to make a call first load a stock chart and make the call through the tab option on the left or via the YourCall icon Email the chart to me through the Zignals delivery service and I will feature it on the blog; send it to

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts, and stock charts website