As we await Castle Brand's upcoming Q3 earnings release, it's clear that the stock may break down from current levels. ROX could not hold its 50 day MA and is now in the midst of consolidating near support. The stock is now hugging its short term trend line and a step lower would be bearish. ROX has proven that it can bounce back quick, and positive earnings can act as a potential catalyst for that to occur, but a decisive break below the triangle illustrated below would spell trouble for short term investors.
For me, the fundamentals of ROX trump technicals when it comes to decision making. As a long term investor with a relatively low cost basis, and as an avid fan of Dark n' Stormy's, I look forward to following ROX's consistent progress, growth, and pending profitability. As long as I'm buying Gosling's Rum/Ginger Beer, I'm long ROX.
For me, the fundamentals of ROX trump technicals when it comes to decision making. As a long term investor with a relatively low cost basis, and as an avid fan of Dark n' Stormy's, I look forward to following ROX's consistent progress, growth, and pending profitability. As long as I'm buying Gosling's Rum/Ginger Beer, I'm long ROX.
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