ERIE approaching $100

BATS:ERIE   Erie Indemnity Company
ERIE appeared on our breakout list today. It is not a stock I would normally consider as it is not an S&P500 company. Volume is low, which makes liquidity low, and difficult to trade in the UK. However, I like the look of the chart so thought it worth analysing.

ERIE trended well until consolidating from 2011-2014. There were a couple of fake breakouts in 2013 but they were unlikely to catch out any experienced trader. In November this year price finally broke out and retested the consolidation high and has since formed three consecutive bull flags.

With volume exceptionally low and $100 figure fast approaching I won't be trading this one. But a good example of a great set-up.