HaseebKhan_90

UNP ready to make the next move higher?

Long
NYSE:UNP   Union Pacific Corporation
* Great earnings
* Very strong up trend
* High 3-month relative strength in the Industrial sector
* Built an 11 month base between $196 and $227.80
* After breaking out it started consolidating in a very tight range creating a base on base pattern
* Consolidated for about a month and now breaking out with higher than average volume

Trade Idea:
* If you can handle a little volatility , now's a great time to enter as the price is still close to the broken range and is picking up on volume
* If you're looking for a slight discount you can look for buying opportunities near the $243.91 area
* Looking at the chart, it wouldn't surprise me if it does come back to retest the $243.91 area before heading higher.

Caution:
* A daily close below $238.83 would negate the idea

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