Stocks Poised to Breakout??
Stocks ranged at highs yesterday. The S&P is forming a very narrow range with a point of control about 4188, one of the levels we have mentioned many times here. The Kovach OBV is very strong, suggesting that a breakout is imminent. Since we are at highs, there is a risk for a retracement, which could take us back to 4144 again. If we are able to breakout, 4214 is the next target.
Trade closed: target reached
Stocks broke out and hit our profit target exactly!!
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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.