2024 Stock Breakouts: ALL and more...

In this deep dive into stock market dynamics, we explore two compelling cases: The Allstate Corporation (ALL) and Cardinal Health (CAH). ALL has been mirroring a Darvas box pattern, recently breaking its fourth level and hinting at a potential breakout. This scenario is marked by a gap above all-time highs, increased trading volume, and a new range formation, all underpinned by a positive earnings forecast and favorable news sentiment. In response, I'm planning a strategic entry at today's closing, complemented by a prudent stop loss above $135 to mitigate pullback risks. This tactic aims to leverage the momentum for potential gains.

Cardinal Health, a long-term favorite, exhibits a pattern of explosive growth, swift pullbacks, and extended consolidations. The key to capitalizing on CAH lies in pinpointing the start of these movements. Currently, it shows promising signals, like trading above the QS trend indicator and a positive shift in MACD, alongside favorable news sentiment and low short-seller exposure. The decision to initiate a position or await further confirmation hinges on these evolving dynamics.

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DISCLAIMER: The content presented in this video is for educational and informational purposes only and should not be construed as financial advice. The trading strategies and results discussed are based on my personal experiences and are not a guarantee of future performance or success. Investing in stocks involves risks, including the potential loss of principal. The views expressed here are my own and do not reflect typical outcomes. My testimonials and examples used are exceptional results, and they do not intend to represent or guarantee anyone to achieve the same or similar results. It is strongly recommended that you conduct your own research or consult with a qualified financial professional before making any investment decisions. Remember, past performance does not guarantee future results. This is not a recommendation to buy or sell!. The links provided on this channel are affiliated links or personal websites.

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