With another stellar quarter we see Five Below ( FIVE) blasting off to a fresh new all time high. In hindsight it wasn't tough to figure out the direction, that is if you follow trends and momentum. All indicators have been pointing higher for some time, and that was even before the previous earnings beat in May. A sideways consolidation and higher volume breakout was a classic technical move in August. Notice the strong money flow at the bottom and momentum has been super strong. MACD is still on a buy signal, and relative strength is solid and off the charts.
After another period of consolidation (a month or so) we should see FIVE take off one more time.
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Let's look at how to play the frothy action on AMC Entertainment holdings.
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