Trade Idea: SN – Channel Breakout

Channel Breakout

Possible long Channel Breakout setup forming on SN. as part of the overall uptrend?

  • Entry: Go long on the break of channel resistance around 1210p
  • Stop Loss: Beneath channel support around 1149p
  • Target: The stock is trading at all time highs so there are no clear levels to target, so instead trail stops sensibly to lock in gains

2 thoughts on Trade Idea: SN – Channel Breakout

  1. I think they were drawing the Buys in at that level today just to dump it. Set up looked good – but it was a false break this time from the look of it?

    1. Yup a bit unfortunate. However i don’t see the trade as dead just yet. There is a support ‘zone’ around 1120p that would need to be breached for me to bail. As always time will tell and you can’t win ’em all!

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