Entering text into the input field will update the search result below

Rogers Corp. (ROG) could be your next great pick.

Sep. 22, 2009 8:01 PM ETROG
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

On September 15, 2009 Rogers Corp. boosted its Q3 sales forecast from a range of $68mln – $73mln to a range of $74mln-$77mln and raised its earnings forecast from $0.05-$0.15 to $0.22-$0.28. Since then, the stock has rallied $4 or approximately 17% but has recently flattened. It looks like it could be setting up a double top around the $31.30 level and could start to pull back. With a 1.5 Beta, a market pull back will be over exaggerated in the stock but so will upswings. Below you will find a 30day 30minute chart of Rogers Corp. with the resistance level around $31.30 and the support level around 27.50. Rogers corp. is as Electronic Component manufacturer and S&P has a neutral outlook on the electronic component sub-industry. Rogers Corp. was the first of two companies in the industry to boost forecasts in the past month. Littelfuse Inc. boosted its sales forecast from $104 -$108mln to $113-116mln. This is an industry that the top-line numbers are the reason for the increase in the bottom-line, instead of cost cutting measures. ROG will be a good long going into the October 26th earnings date. I would recommend waiting for a pullback towards the 38.2% retracements level, around the $28.60 price level.


Disclosure: No Positions

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You