Boise Cascade: After A 7-Week Pullback, It Looks To Reverse Higher

Rick Pendergraft
4.04K Followers

Summary

  • Boise Cascade rallied sharply as lumber prices soared and it has dropped in the last few months as lumber prices tumbled.
  • The stock has reached oversold territory based on one indicator and it could be finding support at the lower rail of a trend channel.
  • There is very little analysts' coverage on the stock.

Planks of wood on shelves
Michael Blann/DigitalVision via Getty Images

We heard quite a bit about lumber prices over the last six months as the price of lumber futures nearly quadrupled from last October through the high in May. The spot price jumped from the $440 area

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This article was written by

4.04K Followers
Rick Pendergraft is a Strategic Content Manager at Seeking Alpha. Prior to joining the company, he was a contributor to the site and has been involved in the investment publishing industry for over 20 years. He has worked for some of the largest financial publishers in the world and he has been quoted in the Wall Street Journal, USA Today, and New York Times. In addition, he has been interviewed on Bloomberg, CNBC and Fox Business News. Rick received a Bachelor of Science Degree in Economics from Wright State University. When he isn’t working at Seeking Alpha, you can usually find Coach Rick doing something involving basketball. He coaches with a high-level travel basketball program in South Florida currently.

Analyst’s Disclosure:I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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.

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