MS looks poised to break out from a long term consolidation. Looking for a quick move to 108. Trade would be very rate dependent. If yields fall or the yield spread tightens bank stocks will drop. I like this in and above the green box. No longer interested below the green box. Targets are the fib extensions above.
Comment:
T1 hit. Looking for 110 next. Plenty of room above if the breakout holds. Always a higher risk of a failed breakout until price gets above the 1.13 fib.
Comment:
Eventually failed to breakout. Price pushed up hit T1 and almost tapped T2 but the 1.13 fib did not hold. I always raise my stops to break even after T1 is hit to avoid heavy losses on a failed breakout like this. Otherwise my stop is a close below the box.