An Unfairly Ravaged Name
Market pullbacks often give us trading opportunities that offer great risk-reward scenarios. Shares of under-followed Iconix (ICON), which owns and markets a number of well-known consumer brands, appears to be in that category. The company is solidly profitable; it has a nice balance sheet and a low valuation; and it now trades near its two-year lows. The stock's 1.35 beta is an added plus, as upward movements typically come quickly and sharply.Iconix (ICON) -- Daily Source: BigCharts.com View Chart » View in New Window »
Iconix closed last week at $14.93. Technical support has been unwavering, right around current prices, while the shares have made multiple excursions toward the $18-to-$22 level, with a 52-week high of $26.05 set last July. The shares were at $22 as recently as January of this year....101 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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