Estee Lauder Companies (NYSE:EL) started 2015 off with a bang. The stock moved higher in February and continued to trend up for the next 6 months. Then sentiment changed and EL sold off with the rest of the market. But the bounce that followed was not seen in Estee Lauder, whose price just continued to move sideways.
But last week it started to move up, ending over its 200-day SMA for the first time since August 20. It has held above that level, consolidating since. An hour, or so, before Thursday's close, it was about to print a bullish candlestick. And it has support to continue higher from the rising RSI and MACD. The Bollinger Bands® are also opened to the upside.
Finally, the Andrews Pitchfork shows a move up off of the Lower Median Line and now a clear path to the Median Line above. A break of this consolidation would trigger a target from a Measured move higher to about 89. That would be just over the Median Line (were it to happen in a day or two.
Looks like this pig is for real and is heading for a night on the town.