The Estee Lauder Companies Inc. (EL) has been in a multi-week consolidation that broke to the upside Thursday through $9. The stock held the breakout on Friday, a bullish sign that tells me higher prices are on their way. Targets on the upside are $100 and $104 with stops now at $96.
The Estee Lauder Companies Inc. is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. Its products are sold in over 150 countries and territories under a number of brand names, including Estee Lauder, Aramis, Clinique, Origins, MzAzC, Bobbi Brown, La Mer and Aveda. It is also the global licensee for fragrances and/or cosmetics sold under brand names, such as Tommy Hilfiger, Donna Karan, Michael Kors, Sean John and Coach.
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