FORTIS- Stock has broadly under performed its peers in last few years but the stocks now looks ready to do a move.
How ? - Explained below.
Fortis Weekly line chart - This chart presents a better picture, stock has already given a decent breakout from range above 299.
Fortis daily line chart - On daily timeframe the stock gives a breakout above 321 and just yesterday stock did an all time high close above the 321 level.
When a stock gets into uncharted teretory after many years, all supply of the stock gets absorbed and the move up becomes easy.
Relative performance of hospital stocks since Fortis made a last high in Sept' 21
Relative performance of hospital stocks since start of 2020.
Disclaimer : - The above charts shared are for education purpose only, study used to select the chart is ATH close and the recent show of strength. I do have open position in the mentioned stock at the time of this post.