[Premium] Trade Of The Week

This week's focus is in the Consumer Goods space, which we spoke about in a free post on Friday. We think the space is going to start regaining its footing on a relative basis, so positioning ourselves in stocks that have held up well should put us in a position to take advantage of that theme.

One of those names is Relaxo Footwears, which has been consolidating all year and is now resolving that consolidation to the upside.

Click on chart to enlarge view.

As long as prices are above their recent pivot lows of 675, then this upside breakout is intact and we can target 1,150 over the next 6-12 months.

Thanks for reading and please let us know if you have any questions.

And if you're a Premium Member, be sure to check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team