Teradyne, Inc. (TER) made a long base pattern from 2004 and began a strong upside move in late 2016. The uptrend looks like it is healthy and has further to go. Let's see how we might participate.
In this daily bar chart of TER, below, we can see that the price of TER is positioned above the rising 50-day moving average line and the rising 200-day line.
The daily On-Balance-Volume (OBV) line shows a steady rise the past 12 months telling us that for many months buyers of TER have been acting more aggressively than sellers. The math behind this indicator is that volume figures are added to a cumulative running total if the stock closes higher on the day and subtracted if it closes lower. More volume being transacted on an up day is a sign that buyers want in.
The daily Moving Average Convergence Divergence (MACD) oscillator has been above the zero line for much of the past year and is currently in a bullish set-up.
In this weekly chart of TER, below, we can see a bullish alignment of the price and the indicators. TER is above the rising 40-week moving average line. The weekly OBV line has been rising the past three years.
The weekly MACD oscillator has been above the zero line since July of 2016 and has turned up to a fresh buy signal.
In this Point and Figure chart of TER, below, we can see a recent upside breakout at $48.54 and a $53.53 price target.
Bottom line: Even though the Point and Figure chart gives us only a $53 price target, I think TER can move higher. Aggressive traders could go long TER in the $48-$50 area risking to $45 and looking for intermediate-term gains to the upper $50's.