HaseebKhan_90

APH broke out with volume, can it hold?

Long
NYSE:APH   Amphenol Corporation
APH broke out from resistance with volume on Friday July 2nd. The question now is, can it hold.

On Friday, APH gaped up with volume and closed above the 4 month resistance that was forming around the $69.10 area. Not only has APH broken out of resistance, it has also broken out of this ascending triangle .

Making new all-time-highs, breaking out of a long consolidation period with buying power demonstrates that APH is poised to move higher.

I do, however, think that it'll consolidate at this level for a day or two before moving higher.

Final Thoughts:
  • Making new all-time-highs
  • Broke out of a 4 month resistance
  • Steady up-trend looking at the weekly or even monthly charts
  • Great long term hold as it also pays dividends
  • Look for buying opportunities around the $69.10 to $69. 40 area

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