mroberts1204

DY "High Handle" Setup

Long
NYSE:DY   DYCOM INDUSTRIES
I like to trade this type of setup. It's a high handle where instead of putting in a handle below the recent highs, the stock puts in the handle just above the recent highs. I traded a similar look in AMTX recently. DY had a successful breakout from a very similar look back in August. The chart shows demand pushing prices higher and ignoring typical levels of resistance. From a psychological perspective it is very bullish . Long

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