$NDSN is coming up on the right side of its base!
Notes:
* Strong up trend on the higher time frames
* Strong earnings track record
* Basing for the past ~15 months
* Increasing volume on the monthly and weekly charts
* Currently breaking out, with volume, of a long germ pivot of 242.64 on the weekly chart
* On the daily chart it broke out, and retested that pivot as support while also pulling back to its 20EMA
* Has been seeing more accumulation recently, indicating institutional demand
Technicals:
* Sector: Industrials - Specialty Industrial Machinery
* Relative Strength vs. Sector: 1.41
* Relative Strength vs. SP500: 1.09
* U/D Ratio: 1.24
* Base Depth: 37.2%
* Distance from breakout buy point: -7.93%
* Volume -60.53% below its 15 day avg.
Trade Idea:
* You can enter now as the price is bouncing off of it's long term pivot of $242.64 and also its 20EMA
* If you want you can place an order around the $242.64 area as well as it may retest it as support since the volume is low on the daily chart.
* Statistically, this stock may go 22.14% higher from here. Of course that won't be immediately but, looking at its history it could push higher using it's 20EMA as a dynamic level of support and get there.
* Strong up trend on the higher time frames
* Strong earnings track record
* Basing for the past ~15 months
* Increasing volume on the monthly and weekly charts
* Currently breaking out, with volume, of a long germ pivot of 242.64 on the weekly chart
* On the daily chart it broke out, and retested that pivot as support while also pulling back to its 20EMA
* Has been seeing more accumulation recently, indicating institutional demand
Technicals:
* Sector: Industrials - Specialty Industrial Machinery
* Relative Strength vs. Sector: 1.41
* Relative Strength vs. SP500: 1.09
* U/D Ratio: 1.24
* Base Depth: 37.2%
* Distance from breakout buy point: -7.93%
* Volume -60.53% below its 15 day avg.
Trade Idea:
* You can enter now as the price is bouncing off of it's long term pivot of $242.64 and also its 20EMA
* If you want you can place an order around the $242.64 area as well as it may retest it as support since the volume is low on the daily chart.
* Statistically, this stock may go 22.14% higher from here. Of course that won't be immediately but, looking at its history it could push higher using it's 20EMA as a dynamic level of support and get there.
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