Looking for a stock that will help you sleep better at night? Check out Tempur Sealy ($TPX) – December 29, 2021TPX
Just a real quick look here at Tempur Sealy ( NYSE: TPX ), it’s the bed company. A lot of you probably sleep well on one, but I think you can sleep well on the chart too.
If we check this out you will see how this stock formed a base here and then a pretty decent breakout. Solid volume here, and then a nice rally up to 50.00. And now we are kind of getting the same thing. It fell below the 50-day moving average and that is not a good thing.
If they do fall below the 50 you want to see it snap back right away. It didn’t do that so it is just that type of stock. But if you really want to look back and see, it did the same thing here. It kind of meandered around on both sides of the border before it finally ran up, this doesn’t really bother me at all. The thing that I am looking for is a clear breakout like we saw back here. I want to see a volume spike that is greater than average and I want to see the move higher.
Frankly, I think that, from a risk standpoint, I feel like you are better off waiting for the stock to break out above 50.00 because it has been in this kind of weekly squeeze here. But if you wait for it to break out above 50.00 then at least you know that this thing is in blue sky. All of the regretful supply is out of the way and then the stock can move higher.