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Byline: Nancy Gondo
Flagstar Bancorp tried to break out of a four-month base on Nov. 3. But the midpoint of its handle was too low, and the stock fell back into the base. Look for a handle to form higher than the midpoint of the base, which is 22.56. Shares are trading 12% off their 52-week high.
The stock, which grew its profit from 52 cents a share in 2000 to $1.79 last year, earns IBD's highest-possible Earnings Per Share Rating of 99. Analysts expect $3.96 a share this year, a 121% jump. But they see profit dropping 39% to $2.38 in 2004.
Flagstar tops the Fundamental Rank for its big, 177-stock Finance-Savings & Loan ...