CECE – Update

By: ispeculatornew
Date posted: 01.22.2007 (12:00 am) | Write a Comment  (0 Comments)

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CECE – CECO Environmental Corp. (Nasdaq) (Closing Price – $12.98)

When I originally gave my buy recommendation of Ceco Environmental I said to buy and accumulate at the current price (which was $9.89). However, the share price is up quite a bit since I originally recommended it and I am going to change my recommendation to hold.

Ceco Environmental has had some positive developments recently but I think the huge jump today is due to speculators buying in before the State of the Union Address on Tuesday. If the president mentions greater pollution controls to fight global warming this will obviously bode well for Ceco Environmental.

I would start taking profit but I would continue to hold most of your shares. The share price of Ceco has broken through its 52 week high so the resistance level has yet to be determined. I think Ceco’s share price has more room to run but I would take profit along the way.

Disclosure: I currently own shares of CECE.

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