CoryMitchell-CMT

Dexcom (DXCM) Nears Major Range Breakout Level

Long
NASDAQ:DXCM   DEXCOM INC
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2
Dexcom rallied off the lows of the range and is now consolidating near the top of a year-long range.

Watching this one closely. About a 3:1 reward to risk with a stop loss below the consolidation and a target between 196 and 200. Want to see high volume on the consolidation breakout to show there is likely enough conviction to break above the range high as well. Can use ATR Stps as a trailing stop as well; adjust inputs to suit your preferences.

Disclosure: no trade yet, but may initiate within the next few days if the conditions stay favorable.
Cory Mitchell, CMT
Stock and forex trading insights at https://tradethatswing.com/

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