Fortune Brands Home & Security (FBHS) looks poised to make an upside breakout on the charts, but a burst of volume will be needed to propel it over the December highs.
In this daily chart of FBHS, above, we can see prices are back up at the 52-week highs established back in December. Prices are above the rising, 50-day and 200-day simple moving averages. The On-Balance-Volume (OBV) line is above its December highs -- and could be foreshadowing a price breakout, as the OBV can be a leading indicator at times. The only technical "fly in the ointment" is a bearish divergence between the higher price highs in February and March and the equal peaks in the momentum indicator shown in the lower panel.
This weekly chart of FBHS, above, has a bullish alignment. Prices are above the rising, 40-week moving average. The OBV line on this time frame has broken out above the highs of 2015 and 2014. The Moving Average Convergence Divergence (MACD) oscillator is bullish, with its recent buy signal above the zero line.
This chart is a little different from what you normally see on financial websites. It is a "Point and Figure" chart, and only plots price changes and reversals of a give size. Here, we are plotting price changes of $1 or more and reversals of $3 or more. This method eliminates a great deal of "noise" found in the price activity. On this chart, FBHS will break out if it trades at $57. A close below $52 would turn the chart from bullish to bearish.