CoryMitchell-CMT

Upside Breakout in LPL Financial (LPLA)

Long
NASDAQ:LPLA   LPL FINL HLDGS INC
485 views
3
Watching for a breakout (happened) and close above $86 (hasn't happened as of July 18 mid-day). That could signal another advance after a consolidation period below $86. The shakeout/false downside breakout in June was a good sign for the upside.

Swing trade target is about 8% above the breakout level, near $93. With a tight stop loss the reward:risk is greater than 3:1. ATR Stops also works a trailing stop; adjust the inputs to your liking.

Disclosure: No position 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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