MON 2/23: MNST – BUYING/ADDING TO (1/3) @ $84.76

3:55 PM – Adding a final 1/3 to my Monster position as shares continue advancing from the 10 DMA with a (albeit) modest increase in volume. The stock remains very highly ranked and is trading at new all-time highs with little evidence of any willing sellers, even as the broader market tumbles. Technically, the longer-term uptrend that began following the early November earnings announcement remains intact.

MY BUYS:
2/18 (1/3) @ $83.68
2/20 (1/3) @ $82.98
2/23 (1/3) @ $84.76

NEW COST BASIS: $83.81

James’ Trader’s Tip: Add to Leaders Showing Relative Strength

• Stocks making new highs during market weakness show relative strength.

• Watch for continued support at the 10 DMA.

• Positions should be built or added to at specific bullish signals.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.