The move off of the $3.45 low in October took the stock up to $13 in three trading sessions. Each day it gapped higher and closed above the open.
Near term a similar more muted move is possible here, moving up to 7-9 range.
Medium term I believe the shares will trend up to the 10 - 13 range.
Long term (18 months) the shares could see 20 - 30 range depending on market sentiment.
During the run-up I will be looking for dividends, and as share price stabilizes covered call writing can produce decent income.
This stock sold off like so many others as a result of irrational negative sentiment. The spike downward in such shares is the inverse of the unsustainable upward price spkies that we saw in 2000. Here too the shares will eventually revert to the norm. In the case of XL this would be in the $45 range. Probably a few years off....
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