$CAL is breaking out of a ~15 month long base. Can it go higher?

2022년 8월 23일

Notes:
* Strong up trend since March 2020
* Good earnings in the recent quarters
* Basing for the past ~15 months
* Broke out around the end of May but pulled back to its 200 day line
* Currently breaking out of historical resistance of $29.85 with higher than average volume
* Next historical resistance comes in around $31.38

Technicals:
Sector: Consumer Cyclical - Footwear & Accessories
Relative Strength vs. Sector: 1.8
Relative Strength vs. SP500: 5.0
U/D Ratio: 1.44
Base Depth: 67.62%
Distance from breakout buy point: 1.31%
Volume 11.71% above its 15 day avg .

Trade Idea:
* You can enter now as the price is just breaking out of its base and historical resistance with higher than average volume
* If you're looking for a better entry you can look for one around the $29.85 area as that should hold as support moving forward

* This stock usually has local tops when the price closes around 21.29% above its 50 EMA
* Consider selling into strength if the price closes 21.09% to 21.49% (or higher) above its 50 EMA
* The last closing price is 11.01% away from its 50 EMA