The stock opened strong and rallied throughout the session, breaking above the 200-day MA on heavy volume, which prompted me to enter the trade.
Positives
- Price is above the 10, 20, 50, and 200 moving averages
- The MACD turns positive
- The stock staged a high-volume breakout above key resistance
Negatives
- 10, 20 and 50 days moving average is not above 200 moving average yet
Trade Plan
- Stop loss: Intraday low
- Target: $343.01
