There are a few things I like about this setup:
I see the pivot as being the recent high of 36.31 and the nearest support level as 35. There is an ascending trend line drawn on the daily chart which also seems to be offering an area of support.
- All moving averages are accelerating
- The RS line is near highs
- Price action is tightening as we approach the pivot
- Clear support along the 50dma so far
- Strong industry group (top 50 per IBD) and other stocks setting up within the group
- Earnings is already out of the way
I see the pivot as being the recent high of 36.31 and the nearest support level as 35. There is an ascending trend line drawn on the daily chart which also seems to be offering an area of support.