Medpace Holdings is breaking out of a textbook cup and handle pattern. As you can see in the chart, there were two possible entries on this trade. The first was an early "cheat" entry at 185.00 after the tightening pattern in the middle of the cup. The second and more technically correct entry point is here at 196.00 as MEDP breaches the high of the handle.
The recent surge on high volume is a good sign. It appears that institutions are piling in and the stock is following through nicely into new highs.
Fundamentals are showing tremendous growth as well:
- Earnings Growth Last 4 Qtrs: +54%, +59%, +50%, +66%
- Sales Growth Last 4 Qtrs: +7%, +13%, +13%, +36%
Accelerating sales and earnings growth like this has been found in most of the top performing stocks of the last several decades. I would work a stop beneath the recent swing low at 174.00 to risk 11% on the trade.
The recent surge on high volume is a good sign. It appears that institutions are piling in and the stock is following through nicely into new highs.
Fundamentals are showing tremendous growth as well:
- Earnings Growth Last 4 Qtrs: +54%, +59%, +50%, +66%
- Sales Growth Last 4 Qtrs: +7%, +13%, +13%, +36%
Accelerating sales and earnings growth like this has been found in most of the top performing stocks of the last several decades. I would work a stop beneath the recent swing low at 174.00 to risk 11% on the trade.