AMEX:XLB a basic materials ETF has been basing for almost a year. Today it broke out just above the most recent flat base. As auto generated by this LevelUp chart.
I have started a ¾ sized position as it is a slower mover so I can go bigger to start a position. My stop is just below the most recent low, which is just over a 5% stop loss.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.