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Burlington Coat - BCF - close: 38.90 chg: +1.00 stop: 36.45

Company Description:
Burlington Coat Factory operates 362 stores in 42 states principally under the name "Burlington Coat Factory". (source: company press release or website)

Why We Like It:
There is not a lot of analyst coverage on the stock but that hasn't stopped BCF from being a big winner for the bulls over the last eighteen months or so. We've been kicking ourselves for weeks for not buying the breakout over resistance at $30.00 on May 23rd, 2005. Now after multiple tests of support in the $35.00 region shares of BCF are breaking out again. This time over its 50-dma, 100-dma and its four-month trendline of lower highs. The Point & Figure chart currently points to a $52 price target. We think BCF will continue to climb as investors start to think about retailers as the fourth quarter nears the holiday shopping season. We're going to suggest longs here but readers have a choice. You could choose to wait for a new relative high over the $39.00 mark or look for a possible dip back to the $38 level or its simple 50-dma near 37.70 as a new bullish entry point. Our eight week target is the $43.50-44.00 range.

Picked on October 24 at $38.90
Change since picked: + 0.00
Earnings Date 10/06/05 (confirmed)
Average Daily Volume: 165 thousand
 

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