The stock seems to be attempting to move out from a tight consolidation over the past week and a healthy base over the past month. Let's see whether it can give a good closing confirmation from here
Personally wouldn't be playing this since there is a dearth of ideas elsewhere however if there were a lack of ideas, this is one script where I would actively try to create a position and start building on as it shows more confirmation. There is clear interest in the stock as depicted by the volumes.
After a meaningful consolidation from a good run, the stock seems ripe to make a remove once again from a good R:R zone here
Relative Strength combined with good volumes preceded by a good earnings gap gives it all the right ingredients for a good potential ahead
A proper Stage 2 stock demonstrating good Relative Strength in a relative weak market alongwith good tennis ball action in its bounces supported by good volumes.
The stock has been silently resisting the downfall also known as Relative Strength and that is where usually the next leaders emerge from. In a conducive market, such stocks are off the fences. Could this emerge as a probable new leader once things settle down and the market turns for the good? For now, it has given a good break out and with other auto names...