Here’s your trade on Zimmer Biomet Holdings ($ZBH) – April 9, 2021
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Zimmer ( NYSE: ZBH ); this was on a real solid breakout today. The thing that I like about this situation is, the stock has basically been trading sideways for all year. It has been zigging around, it had the one big gap up here and that was an earnings thing, and then came down,. it has gradually been tightening up. You see these lines here gradually tightening up and at the same time volume kind of swooned a little bit.
We like stocks that are running sideways for an extended period of time on declining volume and a tightening trading range. This is about as textbook as you can get. We finally get the breakout today on massive volume, really good volume, closing very high, close to the intraday high, really close. This is exactly what you want to see; anytime you can take a stock like this, be my guest, it’s all you. I don’t have much to say, buy this thing and make money. Make sure you have a stop and have a good week.
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