The stock price appeared to break out of its sideways consolidation pattern on strong volume, so I decided to buy in.
Positives
- Price is above the 10, 20, 50, and 200 moving averages
- The MACD is turning positive.
- Volume increased as the stock broke through key resistance.
Negatives
- 10 and 20 days moving average is below 50 days moving average
Trade Plan
- Stop loss: Intraday low
- Target: $25.85
