The price remains above all moving average levels and is within a hair of making another new record all time high. Why argue with that?
So, here are some new candidates my scans found this weekend:
The stock above is within pennies of making a new all time high after forming a lengthly consolidation pattern.
Next,
The stock above, REGI, I bought on Wednesday thinking that the odds of an imminent breakout were high. On Friday, it blasted higher by 7%, only to give most of it back. I continue to hold it with a stop at $13.48
Over the last two weeks, I've been noticing that European stocks are starting to display impressive relative strength.
The chart below shows the Sweden iShares breaking out to a new all time high:
But it's not just Swedish stocks that are making new all time highs, German stocks are as well. Below is a monthly chart of the German DAX index going back to the year 1990:
After consolidating for an incredible 14 years (sorry buy and holders), the index is finally starting to breakout, which is bullish.
If an index consolidates for a decade or two then breaks out, that's a bullish sign, just like it was for the Dow Jones in 1982:
