Could BlueLinx Holdings Inc. (BXC) See a Reversal After Breaking Its 52-Week High?

June 5, 2018 - By Lynda A. Deweese

BlueLinx Holdings Inc. (NYSE:BXC) Logo

The stock of BlueLinx Holdings Inc. (NYSE:BXC) hit a new 52-week high and has $44.66 target or 9.00 % above today’s $40.98 share price. The 7 months bullish chart indicates low risk for the $377.38 million company. The 1-year high was reported on Jun, 5 by Barchart.com. If the $44.66 price target is reached, the company will be worth $33.96 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.09% or $0.035 during the last trading session, reaching $40.975. About 56,159 shares traded. BlueLinx Holdings Inc. (NYSE:BXC) has risen 276.18% since June 5, 2017 and is uptrending. It has outperformed by 263.61% the S&P500.

BlueLinx Holdings Inc., through its subsidiary, BlueLinx Corporation, distributes building and industrial products in North America. The company has market cap of $377.38 million. It distributes products in two principal categories, structural products and specialty products. It has a 6.02 P/E ratio. The company??s structural products include plywood, oriented strand board, rebar and remesh, lumber, and other wood products primarily used for structural support, walls, and floorings in construction projects.

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