ABC - Breakout or Retracement

BATS:ABC   AmerisourceBergen Corporation
Place Buy Stop order at $40.20
Sell Stop order at $39.30

ABC has been bounce in this trading range for quite a while now, it may either retrace back away from the resistance (this is supported also buy over bought stochastics)
or it will finally breakthrough resistance and rally up to the most recent high above the resistance point.
So setting those orders accordingly will grab the ride on the way up or the slide on the way down as it happens.

Target for Breakout is $41.50
Target for Retracement is $37.50

Make sure to place stop orders on the resistance line after executing the trade either way to avoid whipsaws in either direction!


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