Energizer Holdings, Inc. (ENR) was reviewed earlier this year where I wrote, "Traders could approach ENR from the long side at current levels risking a close below $45 or on a close above $50 risking below $46. My upside price target is $56."
ENR has passed our $56 price target but it was also upgraded to a buy by TheStreet's quantitative service - two good reasons to review the charts again.
In this updated daily bar chart of ENR, below, we can see that prices are above the rising 50-day moving average line and the bullish 200-day average.
The volume pattern is difficult to understand but the daily On-Balance-Volume (OBV) line has bee rising since early November and tells us that buyers of ENR have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but the two moving averages that comprise this indicator are overlapping. A move up the upside on ENR would probably result in this indicator turning up again.
In this weekly bar chart of ENR, below, we can see that prices have trended higher the past three years. Prices are above the rising 40-week moving average line.
The weekly OBV line has been positive since late 2016 but it has not made a new high since February.
In this Point and Figure chart of ENR, below, we can see an upside price target of $80 being projected. A trade at $64 will be a positive.
Bottom line: ENR still has the energy to move higher. Hold longs and consider buying more above $64. Risking below $55 while looking for $80 on the upside.