EL looking to break out of YTD consolidation

Give or take EL has been consolidating since the beginning of 2021 and is now positioning itself for a nice break out.

Before the official break out I do think it'll revisit the $308 to $310 area.

Currently it's testing resistance and has decent volume as well.

Looking at the weekly or even the monthly chart we can see a clear up trend.

Final Notes:

• If you want to get in early, look for buying opportunities in the $308 to $310 range
  
• If you want to be more conservative wait for a break and close above $318.34 with decent volume.