TwinTrader.com announces the publication of a breakout for SureWest Communications (Nasdaq: SURW), an excerpt highlighting public companies on the move and what’s behind the stock activity.
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SureWest Communications, through its subsidiaries, provides telecommunications, digital video and other facilities-based communication services to residential, business and carrier customers in northern California. It operates in three segments: Telecommunications, Broadband and Wireless.
The breakout points as to why investors are attracted to SureWest in a bear market, as well as its performance with the day’s technicals. The author writes:
“SureWest shares have been punished along with many other stocks on Wall Street not offering either a dividend, strong sales growth or a good story. SureWest’s fundamentals have become very attractive, especially after the stock declined more than 50% off its highs in mid-April. Price-to-Book is now at a tempting 0.72, and typically indicates a company nearing bankruptcy! Cash on hand represents a third of net equity. … The shares of SureWest have bounced back smartly during the past 60 days. Breaking out above its $14 resistance on a day the overall market was completely hammered, especially in the Dow Transportation Index, shows remarkable relative strength. Fund and institutional investors raising cash in the past three days weren’t selling SureWest; they were buying! The RSI is still neutral; William’s %R is overbought.”
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