* Great earnings
* Very strong up trend
* High 3-month relative strength in the Financial sector
* Breaking out of a tight range of ~3.35% with slightly higher than average volume
* I originally mentioned this as it was breaking out of the cup with handle pattern at $153.09
* It has since then move higher and then started to consolidate
* Even as the financial sector took a hit in the past week AJG managed to consolidate and stay afloat
* This shows that there are institutions still interested in this stock and are holding it up
* Now as the markets are showing signs of recovery, AJG is breaking out of the consolidation
Trade Idea:
* Now's a great time to enter as the price is just above the broken resistance of the range
* Very strong up trend
* High 3-month relative strength in the Financial sector
* Breaking out of a tight range of ~3.35% with slightly higher than average volume
* I originally mentioned this as it was breaking out of the cup with handle pattern at $153.09
* It has since then move higher and then started to consolidate
* Even as the financial sector took a hit in the past week AJG managed to consolidate and stay afloat
* This shows that there are institutions still interested in this stock and are holding it up
* Now as the markets are showing signs of recovery, AJG is breaking out of the consolidation
Trade Idea:
* Now's a great time to enter as the price is just above the broken resistance of the range
