Here’s Some Intraday Growth At Work
When the ‘high flyers’ get
going, they usually pack up and leave quite a few behind. It’s
a fact of life in the land of buying breakouts in many growth stock issues, that
when ‘someone’ decides to step up to the plate, there probably won’t be any
scraps left for those still contemplating.
It’s not for everyone, and even if it was, there
still wouldn’t be room for everyone wanting in. When it comes to some of the
‘thinner’ stocks that have the strong combination of technicals and
fundamentals, there’s going to be ‘limited inventory for distribution’, at those
wholesale levels of classic breakout patterns. One of today’s poster children
for this category of stock was USNA. When I saw the familiar extended pattern
setting up near daily chart pivot highs, I knew it was time to put an alert out
to our members, before the ‘big boys upstairs’ decided it was time for action.
10:00:06
Intraday
Setup Alert
USANA Health Sciences (USNA)
is trading in an extended Slim
Jim on the intraday chart. Triggers above pattern resistance are set above
44.71, with the stock currently trading at 44.30. On the daily perspective, the
stock has formed a 35% wide High-Level double bottom pattern, with some recent
pivot consolidation highs established at 45.65.
I also made mention in the chatroom that this
particular issue had been in Tim Truebenbach’s report a little while back, and
that the current levels would be an area that he might consider entering on
pivot breakouts within the right side of the daily base.
If it’s good enough for ‘too true’ Tim
Truebenbach to watch, you had better believe there’s going to be some fierce
competition when another gentleman by the name of Mr.Slim Jim decides to greet
waiting growth stock investors with an open invitation.