Even as many stocks are weakening many stocks hit ATHs (all-time-highs) on Tuesday and these 2 had a GLB (green line break-out) into new high ground after consolidating for at least 3 months. Note the above average volume. Each reported earnings on Tuesday. They are worth investigating. A close below the green line would be a failed GLB and reason to exit. Note the black dots showing oversold bounces.
Here are their monthly charts.
Hi Dr. Wish-I am an ardent follower of your blog and find your philosophy and approach to the market very interesting and compelling. With reference to CEIX, it has formed a 37 week cup with handle. It has now broken its green line and is at an all time high… however extended from its’ breakout. I see this situation often and wonder if one should buy the breakout while in the 5% buy zone and hope that it becomes a GLB… or wait for the GLB which is extended from an IBD perspective…if I understand correctly. Would you share a few thoughts on this. Thank you in advance for your time.