VeriSign, Inc. (VRSN) met our $110.00 per share upside target today, first mentioned in our April 5th Asbury Alert entitled VeriSign, Inc. (VRSN) Resuming 2009 Advance (access requires subscription), to capture a $21.27 per share, 24.0% advance in a little over 6 months.
XLI outperformed the S&P 500 (SPX) by 15.7% during this same period.
Note that price targets being met do not necessarily mean that the directional move is over — only that our initial expectations have been met.
Here is the chart that appeared in our April 5th report.
Here is the updated version of that chart through midday today.
We publish these notifications for 3 reasons:
- to let Asbury Research subscribers know when to consider taking profits on existing positions,
- to let non-subscribers track what we are doing in the market, in real time, and
- to make everyone aware of a potential upcoming price reversal as price advances often end as upside targets are met and more savvy investors take profits.
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