Disclosure: Long common from $45.81
This has been one of those longs that has just been consolidating at this level, it has broke above its recent box and has held above this level. The stock appears to be forming a new box from $45-$47 which i like as it is allowing the moving averages to catch up and the RSI to drop from close to overbought levels, on this pullback the MACD is still holding level and volume is low which are all good signs for the stock. Moreover, option flow into this name has been BULLISH with traders putting in $1 million bets to the upside. I think a great entry is up here with a stop at the volatility stop of $43.52. The volatility stop will also slowly start to move up with consolidation allowing you to have a natural stop moving upwards.
This has been one of those longs that has just been consolidating at this level, it has broke above its recent box and has held above this level. The stock appears to be forming a new box from $45-$47 which i like as it is allowing the moving averages to catch up and the RSI to drop from close to overbought levels, on this pullback the MACD is still holding level and volume is low which are all good signs for the stock. Moreover, option flow into this name has been BULLISH with traders putting in $1 million bets to the upside. I think a great entry is up here with a stop at the volatility stop of $43.52. The volatility stop will also slowly start to move up with consolidation allowing you to have a natural stop moving upwards.