The stock name is AeroVironment. I published this article on July 30 2017. Click on the image below to read the article
What was the logic behind Buy signal? - Simple - Stock made a big move and posted a breakout on the weekly chart. This is how it looked back then.
I know it looks scary to buy at such high levels. It's against Value concept but see what stock has done in last 30 days. It's up from levels of 36-37 to now $49
Yes, it's a big move but stock has been doing all the right things for months now. Here's a daily chart that will show you how this stock built a base at 50 dma for months before making this big move.
There is nothing more satisfying than to see a stock making a classic text book move.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers