The stock price broke above its previous high today and is now at an all-time high. Entered a long position because the earlier consolidation phase could provide the foundation for this rally to continue for a while.
Positives
- Price is above the 10, 20, 50, and 200 moving averages
- The MACD is gaining strength
- Stock broke through key resistance and it is at all time high.
Negatives
- The stock broke out, but without strong volume.
Trade Plan
- Stop loss: Intraday low
- Target: $58.6
