DRL-Doral Financial Corp is trades in the Mortgage banking sector. Companies shares use to trade north of $55 per share, now going for just over $3. As noted on weekly chart, shares are in clear turn around pattern up-trend channel. Stock has solid support at the 50 day on weekly, and has formed a bullish engulfing pattern on daily as the bulls have become more bullish. We believe the $4.40 area will still pose some resistance in the short run, but 3-6 months the stock is a double your money pick. The banking/mortgage sector trades at 3.26xs sales, DRL less then 2xs.
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