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Carter’s Inc. manufactures apparel for babies and small children. (Thinkstock)
Carter’s Inc. manufactures apparel for babies and small children. (Thinkstock)

What the Charts Say

Bullish on Carter’s Add to ...

On Dec. 3, 2011 ($39.74 U.S.) we suggested that Carter’s Inc. had a breakout from a base that supported higher targets (dashed lines). Subsequently, the stock rallied to $57.27 for a 44-per-cent appreciation at that time (A). Carter’s then settled in a large trading range between $50 and $57 for most of 2012 (dotted lines). The recent rise to $61.22 (B) confirmed the breakout from this range and suggests higher targets. Current levels provide a good entry point (C). Only a sustained decline below about $55 would be negative.

More Related to this Story

Point & Figure measurements provide targets of $69 and $79.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Follow us on Twitter: @Monicarizk1, @RonsBriefs

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