I can wait for a daily close above this level or a pull back from this $45.07 close on Friday. The on the is trying to move higher.
For Fib extensions you can see clustered levels on the weekly chart around $69 and $97. Large long term moves but real targets to take some off, reduce risk. The 97 price would be fighting an all-time high above 97.35 in March 2014.
STOP LOSS: Right now the value on the weekly chart is four. I have been doing ATR(10)value multiplied by 2; so in FEYE today it is 4x2=8 then breakout price $46.45 minus 8=$38.45 initial stop loss. I would trail it up if the picks up and the price moves above 50 using the ATRx2 subtracted off the high price (the wick on the candle).
Long winded but a simple ATR trail stop loss method I do in my head now, after 10 months of execution in cash account with options and/or stock shares.
Simply put I will be long on a breakout above $46.45
Options one could get SEPT 50 Calls for $2.60 a contract on Friday 05/22