ZAGG Chart Analysis- Trade Alert

ZAGG sells accessories for Apple products. Screen protectors, cases, etc. It’s showing triple digit quarterly earnings growth at 300% .  This stock fits Breakout Theory’s criteria of best stocks to trade. This is definitely buy signal and it’s not too late to get in. It is breaking into new highs on a cup & handle pattern. Moving averages bullish, 10ema starting to point upward, 50ema above 200ema. The price action has been consolidation for the past 4 months and is ripe for a major trend to develop. What’s interesting was the strength it showed yesterday in a down market. While the indexes were correcting this stock proceeded to head into higher territory, a definite sign of strength. Be sure to set your stops and apply the risk management rules posted on this blog and you should do fine. Also keep in mind when to sell and get out with profits.  Expected run is to be roughly around 20%. Good luck. (click chart to enlarge)

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