It’s getting tough to find good charts after last week’s carnage. Given the pace of selling that ensued, many names just don’t have what it takes to move higher. There is little to get excited about – but the Constellation Brands chart is an exception.
This company reported solid earnings recently, and the stock moved out on some good volume.
The pennant pattern is bullish, and while the market has been on the decline, this stock is holding up. Relative strength is solid, and the MACD is on a buy signal.
When the markets turn up again, the big money will be flowing into names (like Constellation) that have been leaders.
