I bought 500 shares of TRA at $53.12.
Setup: A combo platter of a breakout and trend-pullback and entering within a forming high and tight flag. I expect a continuation of the trend. Great volume pattern and RSI and stochastics confirm price highs. The stock is under accumulated here.
Risk: My intial target is the recent high at $60. My stop is just under the forming consolidation area.
Concerns: No doubt, the stock (and sector) is overbought. However, momentum and volume are so strong that I’m betting the trend will continue.