We had $ETRM on our watchlist last night as a possible breakout play today. We took this trade and made a nice profit on it. It’s a very simple concept and one I thought I would mention again because these are the easiest types of plays out there and ones you definitely don’t want to miss.
$ETRM tapped that $3.77 level three times before finally breaking out. Remember, the more times a stock taps an area, the more powerful the breakout is gonna be when it finally happens. It essentially formed a “flat top” making the breakout very easy to see. We bought the stock at $3.77 in the chat room right as it was breaking out. The breakout caused the volume to pour in and the stock to pop. Perfect entry for this type of trade.
Questions? Want to learn more about flat top breakouts? Email me at firstname.lastname@example.org and I’ll help you out!