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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Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).