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One stock that insiders are active in here is
ServiceSource International(SREV - Get Report), which helps hardware, software, health care and life sciences companies derive from their customers more revenue from maintenance, support and subscription agreements. Insiders are buying this stock into strength, since shares are up 20% so far in 2013.
ServiceSource International has a market cap of $524 million and an enterprise value of $410 million. This stock trades at a premium valuation, with a forward price-to-earnings of 53.77. Its estimated growth rate for this year is -20%, and for next year it's pegged at 62.5%. This is a cash-rich company, since the total cash position on its balance sheet is $109.44 million and its total debt is just $326,000.
The CEO just
bought 43,000 shares, or about $296,000 worth of stock, at $6.90 per share.
From a technical perspective, SREV is currently trending above its 50-day moving average and below its 200-day moving average, which is neutral trendwise. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $4.01 to its recent high of $7.31 a share. During that uptrend, shares of SREV have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SREV within range of triggering a near-term breakout trade.
If you're bullish on SREV, then I would look for long-biased trades as long as it's trending above its 50-day at $6.10, and then once it manages to break out above some near-term overhead resistance at $7.31 a share with high volume. Look for a sustained move or close above $7.31 a share with volume that hits near or above its three-month average action of 1,046,010 shares. If that breakout triggers soon, then SREV will set up to re-fill some of its previous gap down zone from last November that started around $9 a share.