After NYSE: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 SP:SPX shows good realtive strength against the market; IBD Investors gives a 72 relative strength rating, and is #3 in its industry group. NYSE:AWK ...
Sign of Strength in the chart:
1. Re-accumulation with VCP setup
2. NS signal near support
3. Weekly chart holding at support
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
So the technicals are great, excellent uptrend with the price above its MAs and now formming a third base in which I'm waiting for the breakout to enter a position. The pattern is accompanied by low volume, that's good too. Also, is leading its sector. Very strong realtive strength against the Steel ETF AMEX:SLX , which has a 17% allocation of the stock.
Volatility Contraction pattern have been formed and contracted in trvg chart. Volume have been dried out recently.. watch out closely for high volume breakout or traveling uk and us border news.
resistance 1: 5.2
resistance 2: 7.5
NASDAQ:CRWD looking good. Formming a volatility contraction pattern (VCP), price above 20d, 50d and 200d MA , better than expected earnings for the last 3 quarters and the sector is having a good relative strength against the market. So, now I'll be waiting for the breakout above $227 to entry.
Another thing worth mentioning is that its price earnings ratio...
What I'm seeing: it broke out as expected. Looking for some sustained higher volume. Looking for the RS to turn up. It has been running flat for while.
I am new to trading VCP patterns. Just trying to document as I learn. Would appreciate feedback from those that are experienced trading Mark Minervini VCP.