ABC continues uptrend

ABC has been in an uptrend for many years - with some periods of pullback and sideway movement on the way.

In more recent times a mini pattern had emerged (on the daily chart) of a move up followed by several weeks of consolidation. This can be frustrating, even for longer-term traders. But since the gap up (on earnings and higher volume) on 30th October a better trend has started to develop. With the bull flag confirmed yesterday a buy opportunity now presents itself.

The $100 figure may prove to act as psychological resistance but that is nearly $10 away so there is an opportunity to get risk-free on this trade before that.