$AVD breaking out of its ~14 month base
* Broke its historical resistance of $23.55 which dates back to 2006 with tonnes of volume behind the move
Technicals:
* Sector: Basic Materials - Agricultural Inputs
* Relative Strength vs. Sector: 52.33
* Relative Strength vs. SP500: 8.92
* U/D Ratio: 1.61
* Base Depth: 71.26%
* Distance from breakout buy point: 2.35%
* Volume 196.27% above its 15 day avg.
Trade Idea:
* You can enter now as the price is really close to the broken resistance of $24.25
* If you're looking for a better entry you can look to enter around the $23.85 area or even a retest of $23.55 seems likely.
* A retest of this area ($23.55 to $23.85) would indicate that buyers are willing to push the price higher.
* Next historical resistance comes in around $27.9
Technicals:
* Sector: Basic Materials - Agricultural Inputs
* Relative Strength vs. Sector: 52.33
* Relative Strength vs. SP500: 8.92
* U/D Ratio: 1.61
* Base Depth: 71.26%
* Distance from breakout buy point: 2.35%
* Volume 196.27% above its 15 day avg.
Trade Idea:
* You can enter now as the price is really close to the broken resistance of $24.25
* If you're looking for a better entry you can look to enter around the $23.85 area or even a retest of $23.55 seems likely.
* A retest of this area ($23.55 to $23.85) would indicate that buyers are willing to push the price higher.
* Next historical resistance comes in around $27.9
Aviso legal
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