A number of markets made new all time highs Wednesday. The bull market continues its strong move upward. What can you do? Hold your stocks waiting for weakness to sell, enjoy the ride, oh and get some donuts for breakfast. You can get a dozen jelly donuts, or just take a look at their stocks if the doctor or your belt suggest otherwise.
Dunkin’ Brands, DNKN
Dunkin’ Brands, DNKN, spent most of February and March hovering over support at 36.5, building a base. The move Friday took it above the previous high from March 6th, and it is now consolidating that move in a bull flag. The Measured Move higher out of the flag takes it to 42.50. It has support from a bullish Relative Strength Index (RSI) and a rising Moving Average Convergence Divergence indicator (MACD). Wait for the break over 39.50.
Krispy Kreme Donuts, KKD
Krispy Kreme Donuts, KKD, has been stair stepping higher since breaking down trending resistance in November after its earnings report. Each step has seen the RSI reach near the 80 level, technically overbought, before falling back near the midline and then starting the next move. In addition, the MACD signal line has fallen back from extreme levels and started to flatten, turning up ahead of the next move. Guess where those are right now as the price approaches the latest resistance level. As Homer Simpson would say, Doh! The Measured Move over 15 takes this stock to 17.50 on the next leg. Are you ready?
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Market Makes New Highs - Donuts For Breakfast!
Published 04/10/2013, 01:37 AM
Updated 05/14/2017, 06:45 AM
Market Makes New Highs - Donuts For Breakfast!
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