Career Education (CECO) is breaking out above an up trending consolidation. The stock continues to push higher.
The SCTR continues to hover around 75, suggesting the stock is a continuous top performer. This is a typical top performing stock configuration. Higher highs, higher lows. Ascending relative strength shown in purple is textbook for a strong performer. The daily MACD continues to be above zero most of the time. The MACD pulls back to the zero line, resets and starts another run.
There is a lot to like when you see a strong chart setting up for its next run. The real question is to buy it as it breaks out, or buy it when the MACD resets around zero. That depends on an individual investors style.
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Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com