The stock broke out of its consolidation range on strong volume today. Although the price is still below the 200-day moving average, I still bought a small position as a test.
Positives
- Breaks resistance with volume
- The MACD turns positive
Negatives
- Price is below 200 days average
- MACD 26 and 9 are in negative zone
Trade Plan
- Stop loss: Intraday low
- Target: $674.25
