$BERY breaking out of its ~8 month base!
* Excellent earnings quarter over quarter
* Strong up trend in the long term
* Incredibly high 3-month relative strength of 20.49 in the Consumer Cyclical sector
* Breaking out of a ~8 month base with higher than average volume
* Base depth is ~21.5% hence the max probable ROI for this trade would be ~21.5% if the trade goes in our favor
* Recently broke above its all-time-highs indicated by the red line at $60.77 and retested it as support
Trade idea:
* The price is just breaking out of its base for the second time.
* Earnings coming up and can be expected to give a positive surprise.
NOTE:
* Given the current market conditions, it is suggested that we sit in cash.
* But, if you are willing to still jump in, now would be a great time as the price is just breaking out.
* If you are looking for a better entry, you can look for an entry around the $70.90 area.
* If you have access to volume profiles you can see that the $70.9 area did get quite a bit of volume.
* So, if this does break back below $72.95 we can expect the $70.9 area to hold as support while the general market corrects.
* Strong up trend in the long term
* Incredibly high 3-month relative strength of 20.49 in the Consumer Cyclical sector
* Breaking out of a ~8 month base with higher than average volume
* Base depth is ~21.5% hence the max probable ROI for this trade would be ~21.5% if the trade goes in our favor
* Recently broke above its all-time-highs indicated by the red line at $60.77 and retested it as support
Trade idea:
* The price is just breaking out of its base for the second time.
* Earnings coming up and can be expected to give a positive surprise.
NOTE:
* Given the current market conditions, it is suggested that we sit in cash.
* But, if you are willing to still jump in, now would be a great time as the price is just breaking out.
* If you are looking for a better entry, you can look for an entry around the $70.90 area.
* If you have access to volume profiles you can see that the $70.9 area did get quite a bit of volume.
* So, if this does break back below $72.95 we can expect the $70.9 area to hold as support while the general market corrects.