Will it have a GLB? (see glossary)
FRPT had a GLB (green line break-out to ATH, see glossary, retested it and is now moving up. I nibbled at it yesterday even in the face of this market down-trend. Having recently inherited a wonderful mini labradoodle, I know how much people spend on their pets. I have a tight stop loss order in, in case it weakens. Chart below is weekly. I am also watching a new pet stock ETF, PAWZ.
During this down-trend there are still a few growth stocks (about 10) hitting all-time highs (ATH). DORM is one, as shown by this weekly chart. Note last week’s above average volume at the Green Line Break-out (GLB, see blog glossary). I wrote about FN last week.
The indexes are right up against resistance after the snap back rally. Daily stochastics are very over bought. This week should tell whether we re-test the lows or break through.