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Past Top Stock Pick Learn from these chart patterns. (Past performance does not guarantee future results) Up 0% from $54.12 (2006-04-20)
On April 20, 2006 we profiled Grant Prideco Inc
(GRP) as a Top Stock Pick
to our members at $54.12. Within a period of six months, GRP did not meet our minimum profit objective of 15%. Obviously, we won't get every trade right, but here is what we had observed about GRP: - GSA Rank: 71 (Our proprietary ranking for GRP using fundamental AND technical factors)
- Accum/Dist Rank: 1.19 (Up vs. down volume action of GRP taken over several weeks)
- Discount : -36% (Our measure of GRP's valuation)
- Industry Group Rank: 3 (GRP was in an industry showing strong group action)
- Projected Growth Rate: 32.80% (GRP's projected 5-year growth rate)
Most importantly, GRP was trading just 1.0% off it's 52-week high price, and had a breakout from a sideways price consolidation pattern, a clear signal to time our position, as well had gapped up in price, another signal confirming upward price strength. It is imperative to not only buy the best stocks that are fundamentally sound, but also to time your purchase correctly.
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