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CE Frankline Ltd - CFK - close: 11.98 chg: +0.64 stop: 9.99

Company Description:
CE Franklin distributes pipe, valves, flanges, fittings, production equipment and other general oilfield supplies to producers of oil and gas in Canada through its 41 branches, which are situated in towns and cities that serve particular oil and gas fields of the western Canadian sedimentary basin. In addition, the Company distributes general oilfield supplies to the oilsands, refining, heavy oil and petrochemical and non-oilfield related industries such as the forestry and mining industries. (source: company press release or website)

Why We Like It:
If you consider the rising demand for energy across the globe then CFK looks like they're in the right business by supplying infrastructure and components to the energy sector. Technically we like the stock because shares just broke out from a six-week consolidation. Oscillators are bullish, its MACD has produced a new buy signal, and its P&F chart has also produced a new buy signal that now points to a $16.50 target. Traders have a choice. You can look for a pull back into the $11.20-11.60 range and buy a dip or you can buy the next surge higher over today's high. We would prefer to buy the dip but that would not stop us from entering new positions right here. Our target is going to be the $14.75-15.00 range over the next eight weeks. We are suggesting a stop loss at $9.99 but more conservative traders might want to consider something tighter.

Picked on November 16 at $11.98
Change since picked: + 0.00
Earnings Date 10/27/05 (confirmed)
Average Daily Volume: 150 thousand
 

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