Don't Ignore This Chart

IDEXX Laboratories (IDXX) Resumes The Uptrend

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IDEXX has built a textbook consolidation with an ascending base. Today it moved above the previous closing highs and looks like it is resuming a big uptrend. 

The SCTR has moved back above 90 and the relative strength is almost at new highs. The price action is obviously bullish but this $208 level has provided some resistance. With today's surge, the stock looks to be leaving the $208 level in the rear view mirror. 

The volume is ok with an average of 490,000 shares a day and the MACD has just turned up. This looks setup for another leg higher.


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Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com

Book: Stock Charts for Dummies
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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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