Cedar Fair L.P. (FUN) has a great stock symbol and the chart isn't bad either, by the way. The rally phase that got started in November/December looks like it has further to go on the upside.
In this one-year daily chart of FUN, below, shows a sideways consolidation phase for much of 2016. For most of the time FUN trades between $56 on the low end and $61 on the upper end. There is one short-lived rally over $63 in July.
Throughout this sideways trend the 200-day moving average line is rising and the On-Balance-Volume (OBV) line is steady to higher. A rising OBV line in a sideways market tells us that buyers are accumulating longs despite the neutral price action. The OBV line starts a move higher in October and confirms the upside move we have to date. Momentum readings are not diverging from the price action.
In this three-year weekly chart of FUN, below, we can see that the current strength is part of a longer-term move up that starts in late 2014. Prices are still above the rising 40-week moving average line, which helps to define the uptrend. The weekly OBV line turned up in mid-2015 and signals the start of a long period of aggressive buying.
The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line for much of 2016 and its in a bullish set up now.
This Point and Figure chart of FUN, below, shows a pretty dramatic rise the past few years. FUN is still pointed up with a price target of $70 -- not all that far away.
Prices could extend this target and the daily chart remains bullish provided FUN does not close below $65.