Were You Prepared For This Stock's Breakout Last Week?

Edwards Lifesciences Corporation (EW) broke out this past week, and MPTrader members were prepared.

In his Trading Room a month earlier (Mon July 20), Mike highlighted the stock for its potentially powerful upside technical set-up, writing:  

"Since last November, EW has undergone a sharp correction from 82.55 (11/19/19) to 51.51 (3/23/20), and then from the March low has carved out a pattern that exhibits bullish form, and is putting upward pressure on an 8-month resistance line that if hurdled and sustained will trigger targets of 100 to 110."

Since then, EW continued to put upward pressure on its prior-high resistance zone between 80 and 82.50, finally breaking out this past week when it surged to a new all-time high at 84.60.  The stock closed Friday at 84.33, a full 13.8% above its price at Mike's July 20 alert.

See Mike's July 20 analysis here.



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