Upside Breakout in LPL Financial (LPLA)
Watching for a breakout (happened) and close above $86 (hasn't happened as of July 18 mid-day). That could signal another advance after a consolidation period below $86. The shakeout/false downside breakout in June was a good sign for the upside.
Swing trade target is about 8% above the breakout level, near $93. With a tight stop loss the reward:risk is greater than 3:1. ATR Stops also works a trailing stop; adjust the inputs to your liking.
Disclosure: No position yet, but may initiate within the next few days if the conditions stay favorable.
Swing trade target is about 8% above the breakout level, near $93. With a tight stop loss the reward:risk is greater than 3:1. ATR Stops also works a trailing stop; adjust the inputs to your liking.
Disclosure: No position yet, but may initiate within the next few days if the conditions stay favorable.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/