2023 True Market Leader - Does it has more potential?
VRT has been up more than 200% since late April 2023 bottom, demonstrating key true market leader characteristics in terms of price advance, volume profile and fundamentals.
Look at how well and orderly price was following along the 8 EMA and later 21 EMA since the break-out from a large 195 days base (with two unfilled gaps first in Apr and in later in May).
On the fundamental side, one my notice:
I don't have reliable ElliotWave pattern on VRT, but from the market symmetry concept, I see the next important macro resistance zone at 47-51 area, where 47 is the 100% extension of the move from the bottom of 2020 to the top of 2021.
The history of true market leaders teaches us, that the stocks the doubles and triples have a higher historical odds of doing it again in the next bull-cycle.
It this correction in the indexes is over and the general market has a plan to continue its advance in Q4, my thesis is that VRT shall continue being the top choice for the growth investors and trader.
Trading parameters:
actionable if price breaks out the 39 pivot with volume. Short-mid term long thesis is wrong bellow 36 and fully invalidated bellow 35 areas.
Look at how well and orderly price was following along the 8 EMA and later 21 EMA since the break-out from a large 195 days base (with two unfilled gaps first in Apr and in later in May).
On the fundamental side, one my notice:
- Exceptional relative strength to the SNP500;
- Top EPS and IBD Composite Index;
- Triple digit growth in analyst estimates for EPS for 23 and double digits for 24;
- Jaw-dropping triple digits earnings growth for 3 qrt in a raw;
- Continues double digits sales growth;
- Improving ROE;
- And doubling amount of institutional sponsorship by Sep23;
- Management owns 10%
I don't have reliable ElliotWave pattern on VRT, but from the market symmetry concept, I see the next important macro resistance zone at 47-51 area, where 47 is the 100% extension of the move from the bottom of 2020 to the top of 2021.
The history of true market leaders teaches us, that the stocks the doubles and triples have a higher historical odds of doing it again in the next bull-cycle.
It this correction in the indexes is over and the general market has a plan to continue its advance in Q4, my thesis is that VRT shall continue being the top choice for the growth investors and trader.
Trading parameters:
actionable if price breaks out the 39 pivot with volume. Short-mid term long thesis is wrong bellow 36 and fully invalidated bellow 35 areas.
Trade active:
Entered on Friday and build full position during the day with an average cost around 39
Мой телеграмм канал: t.me/marketartistry