MOO was covered in part 1 of the trade ideas video posted on sunday as a possible IHS pattern.  today it has broken above what i had discussed as a possible alternative neckline.  if you want to here the notes on the trade, click here to view the video.  MOO is discussed towards the end, i believe about 80% into the video.  here’s the static chart.  i will now mark this as both an active trade, as a breakout is a breakout, as well as a trade set-up.  just keep in mind that MOO is very extended, the IHS pattern was not confirmed as per the usual volume criteria, and MOO has a key downtrend line not too far overhead.  with all that being said, this continues to be a momentum driven market, largely moving up on individual stock breakouts of technical patterns so quick in-and-out trades have been working well lately for nimble traders.

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