RiderTrader

BRKS - Cup and Handle. waiting for a regression channel breakout

Long
NASDAQ:BRKS   Brooks Automation, Inc
$BRKS
I would have been more convinced if the Pearsons value in Regression channel was >0.899
Also there is one bar above Regression channel and one bar below regression channel.
47.7 to 47.95 is a resistance area .

Pearsons is not very important so as to not to take the trade as it is near 0.9 levels only.

But still worth a buy as fundamental is strong.
So i will place a buy above 48.2 for a 8 to 10$ move.
But after a buy i will keep 47 as stop loss.

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