Toromont TIH - Looking for move to top of channel - $80 Target

0. Chart looks like it wants to move back to the top / middle of the current channel.

1. Will be watching for movement back towards the top of the channel or a breakdown for a better entry closer to $60;

2. Company Blurb - Toromont Industries (TSX: TIH) is a diversified growth company with a clear objective: increase shareholder value by driving consistent and profitable earnings growth over the long term. For more than 20 years, our Company has met this objective while developing enduring shareholder and customer relationships based on a foundation of performance excellence, innovation and trust.

3. Could be a strong addition at the $60 to $65 level to add to a diversified portfolio.

- drchelsea

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4. Stock looking like it wants to form a CUP & HANDLE here, as it consolidates back to $73 to the $75 range and a possible breakout to $80;

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5. If we see a move higher above $67.50, or a breakout below the channel to $62.50, we are in.

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UPDATE:

This was a stellar call. My grandmother loved this stock. Wow. $80+ coming soon.