* Great earnings * Strong up trend * Very high 3-month relative strength in the Healthcare sector of 10.44 * Trading at higher than average volume creating a pocket pivot * Trading in a tight range of ~5% range * Little to no overhead resistance * Has held up incredibly well during this correction with little to no downside at all.
Trade Idea: * You can enter as indicated before the breakout from the range. * This entry will net you a better risk/reward ratio but with the risk of not breaking out just yet. * If you want to be conservative given the current market conditions, it may be better to wait for the breakout (a daily close) above $182.73 before entering.
Note/Caution: * This is a pocket pivot entry and although it has little to no resistance, it may not break out immediately. * Pocket pivots indicate institutional interest in the stock.