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According to MarketSmith, MLI has comp=98, EPS=99 and RS=97. For a stock to trade at an ATH in such a weak market it is showing incredible relative strength. MLI reported good earnings today. See daily, weekly and monthly charts. Must not close below green line (63.07). Not a rec, for educational purposes only. Most break-outs fail in a weak market. See my recent talk on Day 3 of the TraderLion conference for a discussion of my GLB indicator. I presented after the wonderful John Boik.
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Image and article originally from www.wishingwealthblog.com. Read the original article here.