Part of being a successful investor is to think ahead of different scenarios instead of reacting to them. Cedar Fair (FUN) sports an attractive yield, and this might be a good time to check the charts and indicators before an anticipated rate hike by the Federal Reserve.
In this daily chart of FUN, above, going back 12 months, we can see an eight-month consolidation pattern followed by a four-month rally phase. FUN is trading above the rising 50-day moving average as well as the slower-to-respond rising 200-day moving average.
In support of the current bull move, the On-Balance-Volume (OBV) line has been rising since October. A rising OBV line happens when the volume of shares traded is heavier on days when FUN closes higher.
Buying or trading more on an "up day" is a sign that traders are being more aggressive. The daily Moving Average Convergence Divergence (MACD) oscillator in the lower panel is poised to cross to a liquidate longs sell signal or a signal to take profits in an uptrend.
In this three-year weekly chart of FUN, above, we can see an uptrend from the fourth quarter of 2014. Prices are current above the rising 40-week moving average line. The weekly OBV line has been in an uptrend since mid-2015 and suggests a long period of accumulation. The weekly MACD oscillator has been above the zero line since early 2016 and remains in a bullish configuration.
In this Point and Figure chart of FUN, above, we can see that prices have been in an uptrend for a number of years. The recent upside breakout from a consolidation pattern in the mid to upper $50s yields a potential upside price target of around $79.