Apparel retailer Urban Outfitters (URBN) gapped higher Wednesday after a better than expected earnings report. Let's review the charts and indicators to see if this burst of strength can continue.
In this daily bar chart of URBN, below, I can see that prices made a large equilateral triangle formation in the months before today's upside breakout. Prices have moved around the 50-day moving average line for months but the 200-day moving average has made a saucer bottom and dips towards it were bought since December.
The On-Balance-Volume (OBV) line has been moving in a tight sideways range. The Moving Average Convergence Divergence (MACD) oscillator has been hugging the zero line for months.