* Exceptional earnings
* Very strong up trend
* High 3-month relative strength in the Industrial sector
* Breaking out of a ~8 month base with higher than average volume
* Recently broke above the pivot point of $232.47 and used it as support for 5 days before moving higher
* Retested the broken resistance as support
* Pays generous dividends
Trade Idea:
* Now's a great time to enter as the price broke out and retested it as support
* If you're looking for a slight discount you can look to buy near the $239.46
Notes:
* The general Industrial sector is in a fairly tight range right now so this may follow the same path.
* If you're not getting in right now, you may want to wait a couple of days to see how this plays out.
* If it starts to range, you want to look for a high volume break of the range before getting in.
Caution:
* A daily break below $239.46 would expose $232.47 as support
* A daily close below $232.47 would negate this idea.
* Also if the stock continues to may lower lows for 3 consecutive days below $239.46 you might want to consider exiting the position early.
* Very strong up trend
* High 3-month relative strength in the Industrial sector
* Breaking out of a ~8 month base with higher than average volume
* Recently broke above the pivot point of $232.47 and used it as support for 5 days before moving higher
* Retested the broken resistance as support
* Pays generous dividends
Trade Idea:
* Now's a great time to enter as the price broke out and retested it as support
* If you're looking for a slight discount you can look to buy near the $239.46
Notes:
* The general Industrial sector is in a fairly tight range right now so this may follow the same path.
* If you're not getting in right now, you may want to wait a couple of days to see how this plays out.
* If it starts to range, you want to look for a high volume break of the range before getting in.
Caution:
* A daily break below $239.46 would expose $232.47 as support
* A daily close below $232.47 would negate this idea.
* Also if the stock continues to may lower lows for 3 consecutive days below $239.46 you might want to consider exiting the position early.
