Who Needs Goose? Take a Gander at Celestica's Upside Breakout

 | Mar 16, 2017 | 3:30 PM EDT
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While there may be more attention focused on the Canada Goose (GOOS) IPO, fellow Canadian company Celestica (CLS) , a leader in the delivery of end-to-end product life-cycle solutions, has broken out on the upside. So, check out at this north-of-the-border technical idea.

In this daily bar chart, below, you can see that CLS was in a sideways trading range until October. October starts a nice rally with positive moving average lines -- 50-day and 200-day. The On-Balance-Volume (OBV) line rises at a better pace than in the prior three months and the MACD oscillator moves above the zero line for an outright go long signal. There is a small gap in January as prices spike up on heavy volume.

In this weekly chart of CLS, below, we can see that the January rally lifted prices above the 2015 highs. The 40-week moving average line is rising and the OBV line has been positive since May. The weekly MACD oscillator has been bullish since October.

In this Point and Figure chart of CLS, below, you can see the major upside breakout at $13.50. The large consolidation pattern gives us an upside price target of $25.

Columnist Conversations

Wendy's is extending last week's rally with another 2% of upside.  The stock is working on a 6 day winnin...
We have a nice win here, but want to stay on the name. SOLD HLF MAY 57.5 CALL AT 5 (in at 3.30) BOUGHT H...

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