Long Position on STX @ $46.60 on 7/15/2013 (Momentum)

Seagate Technology (STX) designs, manufactures, markets, and sells hard disk drives for enterprise storage, client compute, and client non-compute market applications worldwide.

The company’s products are used in enterprise servers, mainframes, and workstations; desktop and notebook computers; and digital video recorders, gaming consoles, personal data backup systems, portable external storage systems, and digital media systems.

It also provides data storage services, including online backup, data protection, and recovery solutions for small and medium-sized businesses.

The company ships external backup storage solutions under its GoFlex, Backup Plus, and Expansion product lines, as well as under the Samsung brand name; and network attached storage solutions under its GoFlex Home and BlackArmor product lines. Seagate Technology Public Limited Company sells its products primarily to original equipment manufacturers, distributors, and retailers.

Shares have formed a bullish "flag" and prices are ready to move higher out of this formation.

52-Week Trading Range: $24.90 - $46.70

Entry Point: $46.60

Stop Loss:  $44.27

Target Price:  $51.26

Updates

7/24/2013 9:41:54 AM

STX is closed at $43.85 after it fell below our stop loss.

Position closed on 7/24/2013 at price of $43.80 with a -6.01% loss in 9 days.

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