I was looking for a completion (on the downside) before getting involved in this stock. But the stock changed my bias by breaking above a falling (red) and the pattern neckline.
For getting into this trade, the risk could be (traditional) low of the handle (162) or the more aggressive 170 (calling it a breakout failure).
If this break holds (the stock sustains above 175), it may easily get us to 180-182.
Move above 182 will take the stock to 189, where it may face resistance.
The Target comes at around 193 which is also a historical resistance.
Although the setup looks , we never know what's gonna happen in near future. So one should get ready with a plan B.
If this breakout fails and the stock starts trading below 170, we may look for an aggressive short.
We ll not keep this short above 177
First target would be 163.
Below 161, we may look for 155
# In this case I may also consider the pattern completion on higher time frame (wait for update).
Let's see how this trade proceeds.
Enjoy the weekend.