Notes: * Strong up trend on the higher time frames * Strong earnings track record * Basing for the past ~15 months * Increasing volume on the monthly and weekly charts * Currently breaking out, with volume, of a long germ pivot of 242.64 on the weekly chart * On the daily chart it broke out, and retested that pivot as support while also pulling back to its 20EMA * Has been seeing more accumulation recently, indicating institutional demand
Technicals: * Sector: Industrials - Specialty Industrial Machinery * Relative Strength vs. Sector: 1.41 * Relative Strength vs. SP500: 1.09 * U/D Ratio: 1.24 * Base Depth: 37.2% * Distance from breakout buy point: -7.93% * Volume -60.53% below its 15 day avg.
Trade Idea: * You can enter now as the price is bouncing off of it's long term pivot of $242.64 and also its 20EMA * If you want you can place an order around the $242.64 area as well as it may retest it as support since the volume is low on the daily chart.
* Statistically, this stock may go 22.14% higher from here. Of course that won't be immediately but, looking at its history it could push higher using it's 20EMA as a dynamic level of support and get there.