* Amazing earnings year-over-year
* Very strong up trend
* High 3-month relative strength of 4.05 in the Industrial sector
* Pays out dividends
* Breaking out of a ~9 month base with slightly higher than average volume
* I mentioned it was breaking out mid November but due to the market conditions it had a slight pull back to the $232.47 area
* It has since regained the lost ground and is making new highs again
Trade Idea:
* If you can stomach a little volatility, now's a great time to enter as the price is just breaking above previous highs.
* It's offering a great risk/reward ratio
* If you're looking for a discount you can do a couple of things
1) You can look for an entry near the $243.47 area as it should serve as support moving forward
2) You can wait a bit more and look for a buying opportunity near the $239.46 area since it would be a stronger level of support and can expect a bounce from there.
Note:
* When looking for buying opportunities at the lower levels you want to wait for a bounce from the mentioned levels before entering.
* Very strong up trend
* High 3-month relative strength of 4.05 in the Industrial sector
* Pays out dividends
* Breaking out of a ~9 month base with slightly higher than average volume
* I mentioned it was breaking out mid November but due to the market conditions it had a slight pull back to the $232.47 area
* It has since regained the lost ground and is making new highs again
Trade Idea:
* If you can stomach a little volatility, now's a great time to enter as the price is just breaking above previous highs.
* It's offering a great risk/reward ratio
* If you're looking for a discount you can do a couple of things
1) You can look for an entry near the $243.47 area as it should serve as support moving forward
2) You can wait a bit more and look for a buying opportunity near the $239.46 area since it would be a stronger level of support and can expect a bounce from there.
Note:
* When looking for buying opportunities at the lower levels you want to wait for a bounce from the mentioned levels before entering.
