Price broke out of a resistance level, creating a textbook cup and handle breakout. If we use the dept of the cup as a target from the resistance level and most recent structure low as a stop, we have a good trade on our hand with an excellent reward to risk ratio.
Don't forget, this stock has a current dividend yield of about 1.75%.
Good luck :)
Price is approaching a resistance level that coincides with 61.8% retracement of the previous bearish leg. This pair may provide a good Reward to Risk long term short trading opportunity during the next few days..