Shares of Watsco Inc. (WSO), up almost 1% on Monday, March 18 (at the time this article was written), should still have room to rise in coming weeks.
The company distributes equipment, including residential central air conditioners, gas, electric and oil furnaces, commercial air conditioning and heating equipment and systems.
Revenue Growth
Watsco's fourth-quarter earnings rose 10% as improved same-store sales contributed to stronger-than-expects revenue growth in last week's quarterly report.
More importantly, shares rallied on the news on double the normal volume.
At over $83 a share, shares are pricey but that does not mean they cannot go higher. Just ahead is resistance at $84.55 a share. If WSO can make a solid close above this level, shares should then continue higher and test $89.90.
The $89.90 level would be a good place to tighten up on your sell-stop.
The Fibtimer.com Stock Timing Strategy does not have a position in Watsco Inc.
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Watsco: Room To Rally
Published 03/18/2013, 03:08 PM
Updated 07/09/2023, 06:31 AM
Watsco: Room To Rally
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