Tuesday, January 27, 2015

opened, HYGS, SBUX

This was a stick that I've traded before.   I  loved this chart as we have linear action followed by an above average volume breakout.  Today was continuation day I bought and the move continued.

Entry: 15.29
This stock has many positives, and a small float this move could  run to 19+

High volume  gap move, failed pull back, push ahead= Fish hook.  The market was weak so SBUX gave back a lot of the push today . But has bounced back in AH.  If the market does not collapse this has the potential  to make a 10-20% move from this point.

The weekly shows a cup and a handle break out from the 10 week average. previous runs have tracked the 10 very well and moved from 55 to 80 before topping out and curving out a bottom.

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