Briggs & Stratton (BGG) has climbed some 50% in just a few weeks. A pullback, or a period of sideways consolidation, is likely before we see if we can move still higher.
This daily chart of BGG, above, really shows the big reversal in January. In early January BGG made new lows for the move down and then it rocketed higher. First soaring over the 50-day moving average and then above the 200-day average line by the end of the month. The On-Balance-Volume (OBV) soared alone with prices. This January reversal was only half of the advance. In February and March, BGG climbed further, matching the $4 advance in the first leg higher.
This weekly chart of BGG, above, shows the power of this rally. BGG rallied over the highs of 2015 and 2014. The OBV line is rising, confirming that volume is expanding in the direction of the trend. There are no bearish divergences from the momentum study and prices are above the now rising 40-week moving average line. Do we want to chase this stock? No. I would look for a relatively shallow pullback to $22 or $21 to go long risking another $2 from your entry price. We would buy more shares of BGG on a weekly close over $27 looking for a longer-term move to $35.