Stock of the Day – InfoEdge

After consolidating for 2 years (2011 and 2012), the stock broke out of the range in mid 2013. The stock appreciated by 34% in the year just gone by and in just under two months of 2014 has appreciated a further 31%. Today, the stock is once again on the verge of another breakout from a Cup pattern formation. Despite the appreciation that we have seen in the last 8 – 9 months, the pattern breakout suggests a target of 825 which is 36% above the current closing price.