MD breaks out on higher volume
MD was trending really well until early 2014 when there was a prolonged correction/pullback. Since then it has outperformed the S&P by some distance.
Price took it's time to comfortably clear the $64 zone, finally doing so on 29th January 2015 with an extremely large, bullish bar and higher volume. More recently, Friday's bar closed above the $70 round number (again on higher volume) so we should expect a continued move to the upside.
With earnings already announced, and a reasonably linear trend developing, MD offers a solid long opportunity.
Price took it's time to comfortably clear the $64 zone, finally doing so on 29th January 2015 with an extremely large, bullish bar and higher volume. More recently, Friday's bar closed above the $70 round number (again on higher volume) so we should expect a continued move to the upside.
With earnings already announced, and a reasonably linear trend developing, MD offers a solid long opportunity.
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