Teledyne’s (NYSE: TDY) price chart is a textbook example of an accelerating market with room to run higher. As of late January, it includes three consecutive green candles, large in size, rising sequentially to record highs in tandem with rising volume. (Volume is the critical factor; without it, the candle signal is weak). With traders and investors behind the action, as well as growth, outperformance, and operational quality, the likely outcome is that this market will continue to move higher; the only question is how high?
