I read your note on Steelcast. (loved reading it. ) I did not know much about the company except having talked with a friend about it many years ago. Fundamentally I think you have done a lot of in depth research and your views might be more learned than mine. The only concern regarding the company will be the constant fear in the mind of investors about impact of downturn in Europe and US. Even one quarter of less than expected results can plant doubts in the minds of fickle investors. However for someone who has done research and tracks the company closely, these fears and associated price volatility bear little concern.
Coming to the charts, the stock price chart is of a stock which has had a stellar run, punctuated by brief pauses off and on. Current level seems to be one of pause. Stock has established strong support at around 400-410, having consolidated above it since nearly 4 months. This level is less than 10% from current price. A brief attempt was made to breakout from a flag like pattern, but with last week’s brutal correction in small and midcaps, the stock price of Steelcast too corrected and now retest of breakout zone seems to be going on.
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