Chart of the day: VA

One of my favorite swing trade setups is the breakout-pullback setup.  Recent IPO Virgin America broke out over it’s 5 week range and has now pulled back to the old high.  This high converges with the new 20 day moving average, offering two levels of support.  Entry in the $38-40 range, with a stop under that range offers a low risk, high reward setup.

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