Back into Loblaws.


Long Entry L.TO (L.TO) 
Entry Price 20-May-08 Industry: Food Wholesale
Price $67.72 Loblaw Companies Limited (Loblaw) is a Canada-based food distributor and provider of general merchandise products, drugstore, and financial products and services. Through its various operating banners, including 628 corporate stores and 408 franchised stores, Loblaw provides a one-stop destination in meeting food and everyday household needs. The Company-owned store banners include Atlantic Superstore, Dominion (in Newfoundland and Labrador), Ext
Initial Stop $66.10
Risk $ per Share $1.63
Risk % Cost 2.4%
Risk % Capital 2.3%
Price Target $72.00
Expected % 6.3%
Risk x Reward            2.6

The following is the daily view. Note that we still have a green signal and the stock is holding well above $32. There’s a risk it might pullback with market consolidation but I’m expecting a move to at least $38-40 from here which is the next psychological resistance beyond the 200dma.

2008-05-20 120248-C.L - OHLC 6m20d_1d

Weekly View

2008-05-20 120416-C.L - Candle 2y_1w