Bullish Breakout from Consolidation in
Stage 2 Uptrend
Bullish Breakout from consolidation
in Stage 2 Uptrend. PWR has made two impressive
moves in May, and has been consolidating in a
controller manner for most of June. Yesterday,
the bulls had a clear victory, closing the stock
out of the base with a bullish 10/10 bar,
leaving a base of support underneath. Although
not shown, the weekly chart was also a Buy Setup
with a shallow retracement, suggesting higher
chart courtesy of
Tip: Breakouts that
close outside of the base with a bullish 10/10
bar suggest continued upside.
Buy stock over previous day's high, with a
protective stop under previous day's low.
A $1.00 to $2.00 move.
PWR gained a high of $.47
from entry and stopped out at $7.65 for a $.07
gain using trailing stop method (prior bar's low
after two full days of trading).