When looking for big moves, it’s good to look at new stocks.
New stocks haven’t been around and their true potential is unknown.
Which means when people fall in love, they fall hard.
That’s why new stocks/IPOs can produce huge winners when they give the trigger.
And Birkenstock (BIRK) is looking like it might be ready for a breakout.
Here’s the chart:
A BIRK break above $61.83 could lead to a nice run.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
