I entered a long position because the stock resumed its uptrend after the pullback and broke above the previous day’s high. However, it failed to close at the day’s high, which was slightly disappointing.
Positives
- Price is above the 10, 20, 50, and 200 moving averages
- MACD strength increased
Negatives
- MACD is in negative zone
- Not able close near today’s high
Trade Plan
- Stop loss: Intraday low
- Target: $688.75
