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Byline: Nancy Gondo
Jefferies Group has been working on a base since hitting a new intraday high Jan. 21. Sound bases need at least seven weeks to form, so you might want to keep this on your watch list the next few weeks. It looks like the stock may be starting to build the right side. It's closed higher or in the upper half of its weekly range for four weeks on above-average volume vs. one down week, which can be a positive sign.
The investment bank grew its sales the past two quarters, from 15% to 24% to 61%. Profit growth stepped up from a flat second quarter to 59% to 79%. After-tax profit margins rose the past three quarters, contributing to ...