Although I have no idea what product or service the company above provides, they must be doing something right as the stock is currently at a record all time high price.
Technically, the gap up through the consolidation area is a major plus. I will be purchasing this stock on Monday to replace the my current position of ITB, the homebuilders ETF, which showed some serious weakness recently.
My job as a trend following trader is to systematically eliminate the weakest stocks in my portfolio and replace them with stronger candidates.
Next:
The stock above would look very promising if it could breakout of its consolidation area into new record price territory.
