In today’s Daily Alert Shortex Market Letter Editor Jospeh Parnes recommends a low-profile growth stock that is resisting the market’s downtrend.
“Mattress Firm Holding Corp. (MFRM, Nasdaq) — Market Cap: $1.30 billion, EPS: 1.24, P/E: 31.84. This specialty bedding retailer reported FY/Q1 sales increased 31.5% [and] EPS of $0.38 per share, up 22.3%. Cash from operations is $16.0 million, borrowing is $8.00 million. Credit available is $90.6 million.
“A correction/retraction is being completed. Challenging upper-head resistance at 40.30- 41.20 in the offing. Buying Range: 37-39. Near-Term Objective: 47. Intermediate-Term Objective: 51. Stop Loss: 34.”
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, 6/26/13