HEI in impressive bullish breakout

Throughout May, HEI – Heico Corp. – moved almost horizontally in a low-volatility trendless regime. Then, suddenly with a huge gap and a big bullish candlestick price jumped by more than12% in a day.

Although MACD has been in bullish territory since late January, the lack of momentum caused MACD to move downward and below its signal line. The last movement, though, sent MACD above its signal line for the first time since early April.

Just as important, HEI’s Relative Strength has been moving up and above its 20-day exponential moving average since late January. Needless to say, the last bullish thrust sent Relative Strength way up.

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