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What Should You Do About SHIB Now That It Has Pulled Back?

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This morning, SHIB announced its intention to withdraw from the world oil market. This is huge news because it had been the second largest exporter of oil in America! There has been much speculation about what this withdrawal means for SHIB and for our economy as a whole. For one thing, this will create a lack of competitiveness in the environment by pulling out of the market without any discussion with OPEC or other countries. It will also result in less investment dollars flowing into new oil ventures because of constraints on supply and demand. Oil prices are likely to rise on international markets due to increased volatility caused by non-traditional producers (e.g. shale oil producers) who are likely to ramp up production.

SHIB Gets A Big Boost From The Recent Pullback

A number of things have happened in the last couple weeks that have caused a dip in SHIB stock price. First, there was an earnings report last Thursday where the company announced lower than expected profits for hardware sales. The stock price fell from over $55 to $47 on this news, causing some investors to sell their shares and for the stock price to drop even further. However, even with the drop it is clear that the fundamentals of this company are still very strong. Those who choose to sell during a dip like this are just skipping out on a great opportunity when the story has not changed much. The recent pullback has made SHIB a much better deal for those who want to invest in it, as it is now trading at 10x earnings and 0.14x sales. With such a low multiple you should be able to achieve healthy returns from SHIB even if hardware sales slow down or remain stagnant (but they will not).

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SHIB price looks for reversal

The chart shows SHIB has formed a nice double bottom at $47, which is an indication that it found support and should now continue to rise. It also recently broke out of its falling wedge pattern, which makes it clear that it is looking for a reversal. The volume has been declining for the last month, and it is currently at a low level that indicates it could be ready to rise. The 50-day moving average has also crossed the 200-day moving average, which shows that the price has turned up and started heading higher.

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SHIB Technical Indicators

The RSI has started to move higher and has reached oversold territory (below 30), which indicates that the stock may have found support and will start moving in an upward direction. The MACD is slowly starting to move higher as well, indicating momentum may be turning towards bullish territory. In the near term, the stock is likely to top out at around $50 or $52. It will probably form a double top at those levels that will be a signal to take some money off the table and wait until it falls again. The next move after that will probably be lower, but not enough to make you regret holding on to your shares. I think you can expect SHIB to trade in a range between $47 and $52 for at least a month before breaking out in either direction.

SHIB Fundamental Indicators

The company’s fundamentals are still extremely healthy even with the miss on hardware sales that caused the stock price to drop recently. The company is still reporting growth at 11.6% per year, which is huge and indicates that this stock should still continue to move higher. There are also a lot of positive things happening in the industry as a whole that should help push SHIB even higher. For example, there has been a lot of deals being made between SSD manufacturers and data storage companies to marry their products for greater efficiency for customers.

Statistical scenario

I think the probability of the stock reaching $200 within 12 months is very high. I think it is more likely that it will reach $150 or a multiple of 5 and then stay around there for quite some time. I would not expect this company to see a new all-time high until sometime in 2014, but I think it could triple from here to over $200 before it tops out. There are other long-term catalysts that could push SHIB’s performance even higher than what I have outlined above. These include the recent makeup of OPEC and shoring up relations with China to get them to choose American oil over Middle Eastern oil again.

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