HSOA – Buy and Accumulate

By: ispeculatornew
Date posted: 03.01.2007 (12:00 am) | Write a Comment  (0 Comments)

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HSOA – Home Solutions of America (Nasdaq) (Closing Price – $5.81)

Last month an analyst downgraded HSOA from strong buy to buy. I found the timing of this downgrade to be very curious. In my opinion the stock was on the verge of breaking out and triggering a huge short squeeze. However, the downgrade brought some selling pressure and general wariness of stocks this past week hasn’t helped.  

I still think HSOA is a good buy and I think now would be a good time to accumulate more shares. From a fundamental perspective HSOA is way undervalued and I think it is just a matter of time before HSOA’s share price breaks out of its trading range.

I am reaffirming my buy recommendation and I am going to average today’s price with my initial recommendation to figure my cost basis.

Disclosure: I currently own shares of HSOA.

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