American States W. $AWR, defensive stock going up after a VCP
After
AWR
made a good breakout with a break away gap from a Volatility Contraction Pattern, is making a good and strong follow through. Also, the MACD is positive and going up.
The quotient against the
SPX
shows good realtive strength against the market; IBD Investors gives a 72 relative strength rating, and is #3 in its industry group.
AWK
is leading the price action of the Utility-Water Supply Industry
Now the price is resting between $91 and $88. I will be looking for a breakout above that area to enter a position. With a risk/reward ratio of 3:1 it looks like a good trade. If the price follows through after that breakut I'll add to the position once the price breaks above $96 which is an area of strong resistance.
AWR
made a good breakout with a break away gap from a Volatility Contraction Pattern, is making a good and strong follow through. Also, the MACD is positive and going up. The quotient against the
SPX
shows good realtive strength against the market; IBD Investors gives a 72 relative strength rating, and is #3 in its industry group.
AWK
is leading the price action of the Utility-Water Supply Industry Now the price is resting between $91 and $88. I will be looking for a breakout above that area to enter a position. With a risk/reward ratio of 3:1 it looks like a good trade. If the price follows through after that breakut I'll add to the position once the price breaks above $96 which is an area of strong resistance.
Comment:
BREAKOUT! Now waiting for volume confirmation.