Altera, which is part of the semiconductor group, is showing relative strength this year with a price breakout and new high for the year (2014). The stock established support from mid November to mid January and broke out with a gap in January. After some backing and filling, the stock continued higher with another big move the last three days. The indicator window shows the price relative (ALTR:$SPX ratio) moving to a three month high.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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