$AJG is coming up on the right side of its base!
Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Basing for the past ~7 months
* Offering a very low risk entry
* Recently saw a retest of its 50 day line
* Held up really well while the general market and the Financial sector where taking a beating
Technicals:
Sector: Financial - Insurance Brokers
Relative Strength vs. Sector: 1.23
Relative Strength vs. SP500: 1.29
U/D Ratio: 1.25
Base Depth: 25.64%
Distance from breakout buy point: -8.82%
Volume 45.14% above its 15 day avg.
Trade Idea:
* You can enter now as the price tries to break through the 170 level with higher than average volume and while the price is still close to its 50 day line
* You can wait for the break and close above 170 before entering as that would signal that it's ready to move higher
* If you're looking for a lower entry you may find one around the 167.55 area as that should hold as short term support
* This stock usually has local tops when the price closes around 9.35% above its 50 EMA
* Consider selling into strength if the price closes 9.15% to 9.55% (or higher) above its 50 EMA
* The last closing price is 3.69% away from its 50 EMA
* Very strong up trend on all time frames
* Great earnings track record
* Basing for the past ~7 months
* Offering a very low risk entry
* Recently saw a retest of its 50 day line
* Held up really well while the general market and the Financial sector where taking a beating
Technicals:
Sector: Financial - Insurance Brokers
Relative Strength vs. Sector: 1.23
Relative Strength vs. SP500: 1.29
U/D Ratio: 1.25
Base Depth: 25.64%
Distance from breakout buy point: -8.82%
Volume 45.14% above its 15 day avg.
Trade Idea:
* You can enter now as the price tries to break through the 170 level with higher than average volume and while the price is still close to its 50 day line
* You can wait for the break and close above 170 before entering as that would signal that it's ready to move higher
* If you're looking for a lower entry you may find one around the 167.55 area as that should hold as short term support
* This stock usually has local tops when the price closes around 9.35% above its 50 EMA
* Consider selling into strength if the price closes 9.15% to 9.55% (or higher) above its 50 EMA
* The last closing price is 3.69% away from its 50 EMA
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