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Harman International Shows Flat Base Breakout On Volume!

|Includes:Harman International Ind. Inc. (HAR)

Harman International (NYSE:HAR) is pushing up out of a 5-week base just shy of a new 52-week high on strong volume. This is a classic "O'Neil" type stock (ranking 96 composite) with strong EPS and sales growth rates and increasing fund ownership. The longer-term chart shows that this new momentum has room to run. $120/share is the all-time high, about 50% higher than current levels:

Chart:

(click to enlarge)Click to enlarge

Disclosure: I am long HAR.

Additional disclosure: In The 8:18 Fund.

Stocks: HAR