* Okay earnings
* General up trend
* High 3-month relative strength of 4.02 in the Healthcare sector
* Recently broke above the early 2020 highs of $31.48 with a break-away gap
* Breaking out of a 20 day tight range with slightly higher than average volume
* During this consolidation the volume was very steady with some spikes in buying. This shows institutional interest in this stock.
Trade Idea:
* If you can stomach a little volatility now's a great time to enter as the price just broke out of the range and is still close to the broken level.
* If you're looking for a slight discount you can look to enter around the $33.61 area as that should serve as support
Caution:
* General market may continue to correct
* A daily close below $33.61 would put the price back inside the range and expose $32.96 as the next level of support.
* A daily close below the indicated range i.e. $32.96 would negate the idea.
* General up trend
* High 3-month relative strength of 4.02 in the Healthcare sector
* Recently broke above the early 2020 highs of $31.48 with a break-away gap
* Breaking out of a 20 day tight range with slightly higher than average volume
* During this consolidation the volume was very steady with some spikes in buying. This shows institutional interest in this stock.
Trade Idea:
* If you can stomach a little volatility now's a great time to enter as the price just broke out of the range and is still close to the broken level.
* If you're looking for a slight discount you can look to enter around the $33.61 area as that should serve as support
Caution:
* General market may continue to correct
* A daily close below $33.61 would put the price back inside the range and expose $32.96 as the next level of support.
* A daily close below the indicated range i.e. $32.96 would negate the idea.