Main Street Capital (MAIN)
By Mon, Nov 15, 2021
We’ve been optimizing our scanners for readers and just expanded the Minor Leaguers Report, to account for stocks between $1 billion to $4 billion, as well as foreign stocks trading in the US.
That expansion in the report’s universe of stocks brings us today’s Chart of the Week, Main Street Capital (MAIN).
We love this stock so long as it’s above the $45 level.
There’s a nice base, solid strength, and a ton of upside.
In fact, this baby could be looking at a double-up.
So long as we’re above $45, we’re looking at a target of $80 initially.
Below that level, there’s too much downside to get involved, but above it, we’re riding it up.
And while the options market is somewhat limited here given that MAIN is only a $3 billion company, the June 50 calls are there for 80 cents as an attractive play, as well.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
