Did You Figure it Out in Time?
Back in our June blog post we gave everyone another example of a bullish ascending base breakout as it was occurring. As we said back then, the ascending base often leads to a climax run for a stock where it surges 50% or more within a short time-frame. We revealed the chart without saying which stock it was on the blog.
For those who did not figure it out, the stock was Priceline (ticker PCLN). One of the top growth stocks over the past decade. With enormous earnings and sales growth over that time.
Now we see the stock has moved 55% higher in price since we featured it in our newsletter back in June.
This is a great pattern to look for on the very best growth stocks. Again, its formed when a stock makes 3 successive highs followed by pullbacks of 10%-15%. Normally over about a 2 to 4 month period. The pattern is confirmed by a close above the third high. This is often followed by a parabolic move.
Definitely a pattern you want to be looking for if you momentum trade growth stocks. Or want to start.