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Farmers Hit the Jackpot in Kansas Oil Boom"Flir Systems Inc. (NASDAQ: FLIR) provides thermal-imaging and infrared camera equipment for military, law enforcement, and commercial applications," notes Leo Fasciocco.
In his Ticker Tape Digest, which focuses on stocks showing technical breakouts, he explains, "FLIR has convincingly broken out from a five-week base; the move was boosted by the win of a $359 million contract from the Army."
"FLIR, with annual revenues of $855 million, has been a sensational winner since 2001. It is a beneficiary of the war on terror and the need for equipment to combat it via military and security needs.
"Short-term, the daily chart shows the stock crossing its resistance line at 35.54. The move sends the stock over not only near-term resistance but also over the peak made back in early November. The action indicated very astute institutional buying.
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