Veritex Holdings (VBTX)
Today’s Chart of the Week comes from our Minor Leaguers Report, which looks at stocks that are between $1-2 billion market cap before they cross over into midcap stock classification.
Financials continue to outperform, which is why we like a regional bank from TX, Veritex Holdings (VBTX).
VBTX shows an absolutely beautiful base, and as we say “the bigger the base, the higher in space.”
We love the sector and the risk to reward ratio is particularly great here.
So long as VBTX is above $33, we are long with a first extension target of $47.
But this is only as long as we are above $33.
That puts us above the prior highs from 2018, which signals a true breakout.
Below $33, just sit back and wait. But once it crosses that level, we are long with a 42% profit target.
Til next week, good trading,
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