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.
I host a new TV show on StockCharts.com called The Final Bar. It airs Thursdays at 5 PM ET and is repeated throughout the week on StockCharts TV. You can also catch it on my Vimeo channel or on the StockCharts.com YouTube Channel.
Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
Book: Stock Charts for Dummies
Twitter: Follow @Schnellinvestor
