CDW Corp. (CDW)
By Thu, Aug 12, 2021
We’re fresh off a new edition of the “2-to-100 Club” Report.
This report identifies companies in the $2-35 billion range that we feel are likely to reach $100 billion.
The report filters out things like utilities and consumer staples, focusing more on specific, high performing industries like solar and tech.
That report is where today’s Chart of the Week comes from: CDW Corp. (CDW).
This $26 billion I.T. stock just broke out from a critical level to reach an all time high.
The stock has strong relative strength, positive momentum, and it’s in the right space.
So long as the stock is above 190, we are long with a target at the 260 level.
Below 190, we are out.
But above that, we’re riding it all the way up with a well defined risk to reward ratio.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
