Playing the Breakout Trading Range: IPHS

IPHS broke out in early August and is now developing a trading range between the breakout highs and lows. This has created a low risk set up. I would like to buy on a pullback to the $33-35 range with a target of $40 and a stop around $31-32.

Overall, the stock shows a nice volume pattern, stochastics are oversold and we have a nice uptrend in place. The only concern is the negative RSI divergence. This may set the stock up for failure on a retest of highs. Since that is the target, the breakout trading range trade still looks good.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Create a free website or blog at

Up ↑

%d bloggers like this: