AnneTrader
Long

AGN gaps up over $200

NYSE:AGN   ALLERGAN PLC
AGN             often crops up on my watchlist. It has been in a bull trend for several years but frequently experiences prolonged consolidationary periods.

The stock has been in an uptrend since earlier this year but got into a $145-$175 range from May to October. But, despite the market-wide October pullback, AGN             manage to break out of this range, retest the previous resistance and continue its upward trajectory.

Yesterdays bar gapped up on higher volume and closed well above the $200 mark and previous pivot points - offering a good short-term buy opportunity. The one negative on this potential trade is the nature of the breakout bar - it's extremely bearish . If you don't get triggered long onto this trade within the next bar or two you may want to remove your order.
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