After yesterday’s pullback, the stock surged today and broke above the previous rally high. It is now attempting to challenge the downward gap caused by the earnings report. he MACD is in positive territory and gaining momentum. The stock price is above the 10-, 20-, 50-, and 200-day moving averages, and today’s higher trading volume supported the buy decision.
Positives
- Price is above the 10, 20, 50, and 200 moving averages
- The MACD is gaining strength.
Negatives
- Attempting to challenge the gap-down caused by the earnings report.
Trade Plan
- Stop loss: Intraday low
- Target: $258.88
