CXW bullish prison play
Reasons for bullish sentiment:
1. Lots of new prisoners as a result from the looting
2. Occuppancy of prisons would get a lot closer to 100%
3. Corona dropped the stock way too much
4. low P/E
5. Profitable company
Technical analysis:
1.Weekly bullish divergence
2. lower channel line bounce
3. high volume in reversal candles
Targets:
first target $17
second target $18.90
third $22.40
fourth 24.30
1. Lots of new prisoners as a result from the looting
2. Occuppancy of prisons would get a lot closer to 100%
3. Corona dropped the stock way too much
4. low P/E
5. Profitable company
Technical analysis:
1.Weekly bullish divergence
2. lower channel line bounce
3. high volume in reversal candles
Targets:
first target $17
second target $18.90
third $22.40
fourth 24.30
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