This now sets up bullish trades for the stock. From here, active investors and traders could look to buy it for a next upside target around $185, followed by $188.
It continues to show relative resiliency and in my eye is not far away from another leg higher.
The onus is on the bulls.
It’s a star stock that keeps on shining.
Knowing when to say enough is enough in a trade is crucial to trading success. But are you using the type of stop I am discussing in this video?
All else being equal, this to me looks like a breakout to the upside is not too far away… one that could take it into the $165-$170 area without too much effort.
The way I see it, active investors and traders have two trade opportunities here.
Although it may be overbought from a short term perspective, in the big picture analysis it may just be getting started for a better rally.
Since last week’s earning report it’s continued to grind out for a potential breakout on the charts.
Active investors and traders could now look to trade it at $45.50 or lower to the short side with a next downside target at $42.50 while any strong bullish reversal on a daily closing basis would serve as a stop loss signal.