After what has seemed like a long bull rally, some cold water has finally been poured on the hot market.
The CPI number came in higher than expected.
That means inflation could still be a problem. And that means the Fed may not lower interest rates anytime soon.
And that’s not good for this recent bullishness.
However, there are some stocks charging up toward a breakout level anyway.
And one of those is EZPW.
Here’s the chart:
For many weeks, and especially in 2024, EZPW has been bolting up toward a new high.
If it breaks through $10.68, it could make a nice move.
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.
