stock is within range of notching a 27th record high so far this year, a new peak in its nearly 130 years as a public company. At 26 all-time highs this year, that marks its most over the January-to-April period since at least 1972."Right now it is breaking out above a trendline, believe it or not, going all the way back to 2000," Baruch said on CNBC's "" on Wednesday. "It closed out above there, so the path of least resistance is higher.
The stock could also be helped along by Baruch's expected push upward for the consumer staples sector., XLP, overall it's breaking out too from those highs last year, and the trend is just very strong right now, so I like it. I think these all head higher, " he said. "This year what you're seeing within the consumer staples market and what we believe will continue into 2020 is an improvement within operating margins, pricing that has been increased for these big bulge bracket consumer staples and you're starting to see that in the bottom line as well as the topline," Morganlander said on Wednesday's "Trading Nation."
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