Here is the set up:
Broke through a strong ($12.37), set over multiple periods of time on the Monthly. On more than one occasion from 1983-1996 this was the proverbial glass ceiling. Then a Massive Gap (split, stock dividend???) something gaped this baby back in 1998 and for many years traded nicely above 12.37, Only to retest this level in 2000, 2008, 2013. Also to note is the (18.07).
I have two highlighted areas of action during the past five years (2013-2014) & (2016-2017) where price movements shows a general favor to channeling High/Lows between 18.07 and 12.37. and Oscillator indicate a good probability of upward momentum.
EXPECTED ENTRY/EXIT: 13.00/18.00
TIME FRAME: 4-6 months
TYPE of TRADE: Channel Trade with a chance for multiple round trips between 13.00/18.00