All-Time High for Edwards Life Sciences (EW)

There were quite a few new highs on the US market today and I want to briefly talk about one: Edwards Lifesciences. Since the beginning of the blog I've mentioned that Edwards (EW) is one of my favorite stocks because it has a great chart. It has essentially no overhead resistance and has barely even had a major correction  since 2002, which is impressive on its own, but even more impressive when you consider the carnage that happened in the US market during that time. The guppy chart below shows the price action in EW for the last year and a half. Since it was first highlighted on the blog last year (here) until now the short-term moving averages have gotten support every time they tested the long-term moving averages and the 200-day moving average has consistently had a positive slope. Yes, there have been pullbacks and sideways action, but it has never violated the 7-ATR trailing stop so a trend-following system has stuck with EW through the choppy action and continues to hold it as it made a new all-time high price today. If Edwards can trend higher with relatively low volatility I expect to see the trailing stop rise to protect more gains.

Related Posts:

• EW first highlighted on the blog in October 2009
• US All-Time Highs Last Week
• Canadian All-time highs
• Research on Trend following with All-time highs