Breaking out?

NYSE:FUN   Cedar Fair, L.P
$FUN broke out over the $56.5 resistance level and the 50-day EMA is approaching the 200-day EMA . I will be looking to open a position at that $56.5 level BUT I'd be careful about buying just yet because RSI is reading overbought and the MACD looks to be topping out. I think this will consolidate over the next week or two and if stock can hold around that $56.5 level, I'd be looking for this to fill the $9.5 channel up to $66. There is support at between $48-51 so set your stops accordingly.


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