TPX made a base over base and broke out!
Fundamentally, it's earnings and sales have been growing more than 30% quarter over quarter and is expected to continue growing.
Technically, it's been in a range since March 2021. After the earnings report in July it broke out of the range and started consolidating above the previous range creating a base over base pattern. A break out of such a pattern can prove to be very powerful.
Trading idea:
* A pull back to retest the $44.50 area is likely so look for buying opportunities there.
* If you want to get in regardless of a discount now would be a great time to get in and ride the wave!
Fundamentally, it's earnings and sales have been growing more than 30% quarter over quarter and is expected to continue growing.
Technically, it's been in a range since March 2021. After the earnings report in July it broke out of the range and started consolidating above the previous range creating a base over base pattern. A break out of such a pattern can prove to be very powerful.
Trading idea:
* A pull back to retest the $44.50 area is likely so look for buying opportunities there.
* If you want to get in regardless of a discount now would be a great time to get in and ride the wave!