CBZ broke out of a CUP consolidation last Thurs after it announced earnings beat.
The stock has been showing good relative strength to the S&P500, making higher lows while the SPX was making lower low on 13 October.
It has also been steadily trading above it's 200 day moving average while the overall market was tradng way below. This stock will likely continue it's uptrend for a while (pullbacks now and then not withstanding).
Any near term pullback towards the cup "rimm" (125 - 126.50) would be a good opportunity to buy. At the worst case, a 50% fib retracement of it's recent AB upswing back towards 121 is possible but not likely to be lower.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
The stock has been showing good relative strength to the S&P500, making higher lows while the SPX was making lower low on 13 October.
It has also been steadily trading above it's 200 day moving average while the overall market was tradng way below. This stock will likely continue it's uptrend for a while (pullbacks now and then not withstanding).
Any near term pullback towards the cup "rimm" (125 - 126.50) would be a good opportunity to buy. At the worst case, a 50% fib retracement of it's recent AB upswing back towards 121 is possible but not likely to be lower.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!