After NYSE:PSB topped in mid-April has been forming a long base. I see a "low cheat" with a breakout above $168.88 with a good follow through above $165 resistance zone. Today is making that second breakout and could be a good day to get in the stock. I'll be waiting for volume confirmation.
NYSE:PSB has a IBD relative strength rating of 77. Is not the minimum 80 that I like to see, but still the chart is looking very good. Another stock in the same industry that is going for the breakout is
WY
. Is currently trading at $38 and the pivot buy zone is at $42.
The only thing that I don't like is that
PW
, which has the #1 rank in the industry by IBD, already made the breakout from its base and last week made a hard throwback. If this industry leader doesn't holds above $49 could be a bad sign for the rest.
NYSE:PSB has a IBD relative strength rating of 77. Is not the minimum 80 that I like to see, but still the chart is looking very good. Another stock in the same industry that is going for the breakout is
WY
. Is currently trading at $38 and the pivot buy zone is at $42. The only thing that I don't like is that
PW
, which has the #1 rank in the industry by IBD, already made the breakout from its base and last week made a hard throwback. If this industry leader doesn't holds above $49 could be a bad sign for the rest.
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As there has been more down days that up days, I change my stop to breakeven.