"Overall, there is plenty of evidence that demand has taken control of the near-term picture and longer-term the trend is still positive and the upside price objective is $43. Ok to buy FLIR in the 30-32 area with a trading stop at $28, which would be a near-term sell signal on both the default and 1/2 pt charts. FLIR is a 3 for 5'er, and the Electronics sector [itself] is favored."
All content above this caption (c) Dorsey Wright
As many of you know already, I have been banging the drums for Flir Systems/FLIR for ~3 years now. And most recently over the course of the past 5-6 weeks I repeatedly have stated the shares near a breakout of the 6 month base it has built. This opportunity (FLIR) is a specific example of how you (as trader or investor) align your interests with those of the markets; i.e., buy the short term breakout from an intermediate term base within a long term uptrend. And within one of the periodicities (short, intermediate, and long term) is your investing time frame.
For FLIR shares, the next breakout (for those who prefer certainty with their morning coffee) would occur at ~$32, basis the close with explosive volume. BTW, this level is approximate because it occurs from a line of declining tops that is lower with each passing day.
As a position trader, I love opportunities such as this one: ~$4 of risk (a $32 purchase with a $28 stop) vs ~$12 of reward (~$32 purchase and a $43-44 objective), or a 3:1 ratio. And either likely achieved within the short term (days to weeks).