One of my favorite swing trade setups is the earnings breakout. An earnings breakout requires:
1) A stock that has formed a long base or range
2) A big gap breakout
3) A huge volume surge
4) A pullback to the bottom of the breakout bar for entry
Buffalo Wild Wings meets all of the requirements for the earnings breakout setup. It has been basing in a range since early December and gapped up on huge volume after earnings. While I usually like my initial target at the to of the breakout bar, since last October I have had my eye on big round number $200 as the target for BWLD and it’s still on target to reach that level.
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