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HaseebKhan_90

LITE breaking out of a tight range with higher than average volu

Long
Lumentum Holdings Inc. (NASDAQ:LITE)  
HaseebKhan_90  
NASDAQ:LITE   Lumentum Holdings Inc.
Trend Analysis Chart Patterns Rectangle buysignal buysetup buyzone tightening hightightflag consolidation-breakout consolidationzone rangebreakout
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trendanalysis chartpattern rectangle buysignal buysetup buyzone tightening hightightflag consolidation-breakout consolidationzone rangebreakout
* Excellent earnings
* Strong up trend in the long term
* High 3-month relative strength of 2.61 in the Tech sector
* High 50 day U/D ratio of 2.11
* Breaking out of a 3.31% range
* During the consolidation the volume did dry up and as it started breaking out the volume picked up.

Trade Idea:
* You can enter now as the price is just breaking out of the tight range
* If you're looking for a better entry you may wait for an entry opportunity near the $105.61 area
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