Keeping an Eye on STEI
Stewart Enterprises (STEI) owns and operates 218 funeral homes and 141 cemeteries nationally, and provides a wide range of services in the death care industry. The company recently raised its dividend, taking the current yield to 2.3%, and there is a 15.9% short interest in the stock.
STEI has been in the process of forming a base for the last eight months, after dropping 37% from its April 2011 high. Lows in September and December last year, and March of this year, have formed a triple-bottom in the $5.00 area, with resistance at the $6.50 level. A number of stocks are exhibiting the same basing pattern and technical characteristics, which could be a positive for the broader market....229 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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