Can These Stocks Pull Up In Time? Tronox Ltd (TROX), Chegg Inc (CHGG) and Legacy Reserves LP (LGCY)
New York, NY – GDP INSIDER – 05/08/2014.
This article discusses three companies: Tronox Ltd (NYSE:TROX), Chegg Inc (NYSE:CHGG) and Legacy Reserves LP (NASDAQ:LGCY)
Tronox Ltd (NYSE:TROX) continued its bearish run with the stock hitting a new one year low of $18.95 before recovering to $19.31 by the end of trading, down 6.44% or $1.33 with more than 1,299 million shares changing hands compared to its three month average trading volume of 0.531 million. The company reported its 1Q 2015 earnings after market close on May 6. Tronox Ltd reported an adjusted net loss of $51 million in the first quarter or $0.44 per diluted share, compared to the net loss of $58 million or $0.51 per diluted shares in the same quarter prior year. The shares are down by 19% year-to-day and over 19% in the past year. With one year price target estimate of $26.40 and current ratio of 6.50, the stock at this price still has upside potential.
Chegg Inc (NYSE:CHGG) surged yesterday as the stock gained $1.15 to finish the day at $8.57, an 16% increase in value from its previous closing price on much higher than average trading volume of 4.045 million compared with its three month average trading volume of 0.769 million. Yesterday’s gains have pushed the total increase in value of the stock so far this year to 24.02% and its RSI to 65 from 49. The stock just experienced a bullish MACD crossover which may also have triggered the gains. If Chegg Inc makes further gains, it should enter a higher trading range making it a long term hold or profit-take at this time.
Legacy Reserves LP (NASDAQ:LGCY) suffered a decline of 5.37% or $0.65 to finish the day at a closing price of $11.45 on slightly higher than average trading volume of 0.626 million, compared to its 30 day average trading volume of 0.504 million. The company, which focuses on the acquisition and development of oil and natural gas properties, has been steadily declining over the past one year with the stock down over 56%, compared to the S&P 500 which is up 11.15% over the same period. The RSI of 43.18 indicates the stock is not overvalued at the current levels, the MFI of 58.11 shows that money is flowing in the right direction, hold.
About Ultimate Stock Alerts
UltimateStockAlerts.com covers NASDAQ and NYSE listed companies that are overlooked by Wall Street. Investors can choose to receive trading strategies via text message (SMS) or email. To receive free text message alerts text the word ULTIMATE to 555888 from your cell phone. For more information visit www.UltimateStockAlerts.com
Disclosure: UltimateStockAlerts.com is not a registered investment adviser and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please visit www.UltimateStockAlerts.com website, for complete risks and disclosures.