Top-performing industrial stock could rally another 25% before hitting a wall, trader says $ROK $XLI (via TradingNation)
"This industrial looks very good," Gordon said on CNBC's "" on Tuesday. "I like to look at this from an Elliott Wave point of view, which is a theory that markets advance in trends of threes and corrections of two."
"The theory says we should go up and hit channel resistance," said Gordon. "We had a massive, massive launch ramp right through the $200 region. We had a breakaway gap. That is now your support if you want to trade it, or invest in it. I'm looking at adding this to my portfolio. … You will collide with resistance I think above that $250 level so that's the upside technical resistance.
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