There is a Burlington Stores (BURL) location about two miles from my home. I can always see cars in front of the store when I pass by. I guess that has translated into a strong move up in the stock price. I can't say the same for all the retail stores in my area. Let's check out the charts and indicators this morning following Thursday's gap to the upside.
In this updated daily bar chart of BURL, below, we can see that prices are above the rising 50-day moving average line, which was recently being tested. The rising 200-day moving average line is below the market -- perhaps too far below. The daily On-Balance-Volume (OBV) line has been moving sideways the past two months but it should soon post a new high to confirm the new price highs. The Moving Average Convergence Divergence (MACD) oscillator has corrected down to the zero line recently but this oscillator was turned up again on yesterday's price strength.
In this weekly bar chart of BURL, below, we can see a strong rise or uptrend from early 2016. Prices are above the rising 40-week moving average line. The weekly OBV line is generally positive and the MACD oscillator is well above the zero line and looks poised to turn up once again.
In this Point and Figure chart of BURL, below, we can see an upside price target of $154 being projected -- not all that far above where prices are today.
Bottom line: BURL is clearly in an uptrend but the Point and Figure chart only yields a modest upside price target from here. I suspect BURL will trade sideways for a while.