$MLM forming 4 Month #Rectangle #ChartPattern

is another stock showing relative strength and could be setting a breakout to higher prices in the coming days. A clear daily close above $230 resistance that has been tested multiple times in recent weeks will set the stage for the next leg higher.

Note

closed above resistance today but not very convincing. lower than average volume and just barley above resistance.

Note

that pullback day was a perfect entry. i picked some shares at $228. stop breakeven now with the strong move up today :)

Trade closed manually

My limit sell order was filled when the stock tagged the weekly sloping trend line on the chart yesterday.

TaPlot

✔ Momentum & Breakout Trader Since 2006 | Influenced by Mark Minervini VCP Trading Style & William O'Neil CANSLIM 📈
✔ Follow me on Twitter @taplot - twitter.com/TaPlot
✔ YouTube channel youtube.com/@taplot

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

TaPlot

Also on: