Buys GNC 13.67


GNC broke through the descending channel at $13.55 but yesterdays high was $13.65. I could have bought at $13.56 but I wanted to be sure it was a breakout. Notice the two circled breaks through the upper parallel line.  It was certainly possible to get another one of these this morning.

Those two false breakouts and the trading in the upper half of the channel let me know yesterday of a strong possibility of a break to the upside today.

This is a deep value trade but it could go to ten bucks. Size your trade accordingly.

Dave C

Leave a Reply