Shakeshack: SHAK Clearly Basing out in a range
SHAKESHACK:SHAK
Nice range trading, suitable for trend followers, evidently.
Still looks OK to buy, using the lower parallel as a dynamic
exit point if broken at any point before it reaches a very
obvious upside target at 39.30 -39.62 range - at which point
positions can be reversed with stops above 40.
And then if that short is taken out it will show that it's long
basing activity since IPO is at coming to an end...it should
start a staggered ascent back towards the highs, the next
near term trade being from 40.04 to 41.87.
More as move develops...
Nice range trading, suitable for trend followers, evidently.
Still looks OK to buy, using the lower parallel as a dynamic
exit point if broken at any point before it reaches a very
obvious upside target at 39.30 -39.62 range - at which point
positions can be reversed with stops above 40.
And then if that short is taken out it will show that it's long
basing activity since IPO is at coming to an end...it should
start a staggered ascent back towards the highs, the next
near term trade being from 40.04 to 41.87.
More as move develops...
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