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Breakout for Masco

By Gary Morrow

 About this article:
 Masco is up over 5% today and is now trading just shy of its yearly highs. The rally today follows Friday's powerful 4.8% high-volume breakout, which lifted the stock above trendline resistance near $14. MAS is now within easy striking distance of its yearly highs of $15.50, which it left behind in early August. Masco has had a great run since the beginning of the month. After topping out in August, the stock began a three-month consolidation pattern that featured three consecutive lower monthly lows. By the end of October, as volume picked up dramatically, MAS had faded all the way back down to its July breakout point near $11.50. MAS Daily (NYSE) -- Masco Source: TradeStation Once the breakaway gap was filled, MAS quickly reversed course. The rally since the start of November has lifted...

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