GMCR is the breakout stock of the day, breaking out to new highs off a strong gap and price bar to new highs. How does a swing trader trade this post breakout? We wait and what.
A post breakout trading range at the new highs should setup up another run up. The easy trade is a breakout failure. If price closes below the old high, it will be a clear signal for a swing trade short setup. The first target would be around $132.50, which would be the “gap fill” target or the price level before the gap breakout.
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