Price-Level-Trading
Long

SHAK at strong resistance getting ready to breakout?!

NYSE:SHAK   SHAKE SHACK INC
SHAK One of my favorite setups is to take a stock long at the break of a resistance or break of support to catch the momentum of the move. Earnings are about 2 weeks out too so SHAK may rise into the ER like most stocks do.

MY setup is taking the break of Thursday's candle with March $50 calls. Keeping a tight stop in case it's a failure on the break up.

Target 1 is the 200 day sma and target 2 will be around the $60. Let's see what she does this week!

Once filled will give the trade 3-5 days to see how the momentum is.

As always let price discovery be your guide :-).
Trade active: Filled.
Comment: Moving stop to 4.10 on the options.
Comment:
Comment: Moved stop to $4.20 on the calls.

Trade closed: stop reached: Out for a small gain ahead of earnings.
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