* 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.
hey , did you saw the insane silver gold jump ?? 8% ystoday , my scan no gave me any sine :( maybe today will be huge crash of gold silver ?? could be a bull trap now as well , what do you think ??