The stock opened lower but rallied strongly throughout the day, completely shaking off yesterday’s weakness and even breaking above yesterday’s high. Combined with the increase in volume today, I see strong bullish momentum, so I decided to buy in.
Positives
- Price is above the 10, 20, 50, and 200 moving averages
- The MACD is positive.
Negatives
- Resistence ahead
Trade Plan
- Stop loss: Intraday low
- Target: $35.3
