Skip to main content

Clarusvisus/Getty Images/iStockphoto

Briggs & Stratton Corp. stayed in a wide horizontal trading range mostly between $17 and $24 for several years (dashed lines). The recent rise to $25.92, above the top of this range (A), suggests a breakout and the start of a new major up-leg. A sustained rise above ±$26 would confirm this. Behaviour indicators including the rising 40-week moving average (40wMA) and the rising trend-line (solid line) confirm the positive status. Only a sustained decline below ±$22 would be negative. Point & Figure measurements provide targets of $29 and $32. The large trading range (dashed lines) supports higher targets.

Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: www.decisionplus.com

Story continues below advertisement

Report an error Editorial code of conduct
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.