Builders FirstSource ($BLDR) Constructed a small base and broke through! Let’s see if it can BUILD on this progress. (December 17, 2020)

by DAN BLDR 
This is Scott with your Chart of the Day. I want to take a look at Builders FirstSource ( NASDAQ: BLDR ). BLDR ( NASDAQ: BLDR ) is in a well-defined uptrend, it’s above all the major moving averages and looks pretty good.

If I zoom in here a little bit you can see that it constructed a nice sideways base of consolidation over the last 15-days or so; broke above that base and did it on high volume. You can see that it is really close to a pivot.

On December 1st here it got hammered back down into this base after hitting 38.48. We are really close to 38.48 right now; I want to see if it can break above 38.48 and possibly build a second floor within this uptrend (okay, that’s the last construction joke, I promise).

I will be setting an alert right around 38.48 here on this chart and I want to see it get above that level, stay above that level and do it on high volume. So keep an eye on BLDR ( NASDAQ: BLDR ), I think it’s worth watching tomorrow.

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