James Taulman
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ORBK: Support Level Raised For Recent BreakOut

Closed at the session highs today and a new multi-year high (+1.4%) with a +144% increase in volume. Just broke out again on Monday and closed up +3.5% with a +68% increase in volume.

This high-ranked leader triggered our technical buy signal on 2/27 at $14.36. We now sit with gains of +9% without ever experiencing a technical violation.

As noted in a recent Sunday Stock Report – “This stock is in sound technical condition with two days this week of volume-back gains. This comes on the heels of shares successfully testing support squarely at the 50 day moving average (3/17). This leader looks poised to move higher with no resistance nor overhead supply in the way of further possible gains.”

We are now going to raise our 1st SUPPORT LEVEL to the previous highs of $14.93. A break below there would be a concern.  The next level of support is offered by the 50 day moving average.  A considerable close below there (currently $14.14) would a serious concern.

5 HIGH-RANKED LEADERS REMAIN ON OUR WATCH LIST

  • This was just one of eight high-ranked leaders that were on our watch list.
  • We still have five other fundamentally sound leaders set up in bullish technical bases of consolidation.
  • All of the stocks match up very favorably with winning guidelines that were developed from a famous 50-year study of the market’s biggest winners.
  • History has shown that when these stocks are posted as set ups, they are poised for a breakout.

THE COMPLETE REPORT IS HERE