Bullish potential on Alimentation Couche-Tard
Alimentation Couche-Tard has shown a significant uptrend over the past four years, recently breaking above a declining channel. The stock's movement suggests a potential new uptrend, with targets set at $89 and $99. Support levels are noted around $76, with a critical threshold at the 40-week moving average near $74.
- ▪Alimentation Couche-Tard was in a major uptrend for over four years before entering a slight decline.
- ▪The stock has recently advanced above the upper boundary of its declining channel, indicating a potential new uptrend.
- ▪Point & Figure measurements suggest targets of $89 and $99 for the stock.
Opening excerpt (first ~120 words) tap to expand
ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountAlimentation Couche-Tard (ATD-T, Monday’s close $79.05) was in a major uptrend for more than four years, trading above a rising trendline (solid line) and its rising 40-week moving average (40wMA). We recommended the stock on numerous occasions during this period.Open this photo in gallery:stockFollowing the February, 2024, high of $87.27 (A), the stock began trading within a slightly declining parallel channel (dotted lines), while the 40wMA also trended lower. More recently, the 40wMA started to curl upward, and the stock advanced above the upper boundary of the channel (B). Together, these developments signaled the end of the downtrend and the start of a new uptrend toward higher targets.
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