Let’s take a look at this impressive feat, study the progression, and plot the pullback trades along the way.
Price achieved – then stalled – at the $50.00 per share level in July during an ongoing bullish campaign.
July also saw an impulsive bullish breakout to new highs as the stock began to appear on bullish scans – ours included.
From there, we saw a steady and stable upward progression into November.
Note the three simple “pullbacks” or retracement trading opportunities (note our “Perfect Pullback” simple strategy) that gave eager bulls a risk-controlled placed to enter this “strong stock getting stronger.”
Buyers aggressively accelerated their campaign with a strong gap-up – and two more risk-controlled retracement opportunities – in November and now December.
By midday, shares achieved the all-important $100 per share level.
We’ll be focusing our attention – and trades – on $100 and will trade the immediate departure from here.
Like the stock market, an ongoing ’short-squeeze’ bullish campaign continues the uptrend higher as we balance the logical odds for another pullback toward the rising 20 day EMA just above $90.00 per share.
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