Buckle Up for a potential breakout in $BKE – April 19, 2021BKE
This is Scott with your Chart of the Day. I want you to keep an eye on Buckle ( NYSE: BKE ). Buckle ( NYSE: BKE ) has earnings out of the way. You may know, earnings season is back and you really have to watch those dates on some stocks because you don’t want to get caught in a bad earnings surprise.
Buckle ( NYSE: BKE ) has earnings out of the way so I like that. I also like the fact that the stock has been really nice and tight. If I zoom out here you can see a little bit of a cup and a high handle all above its major moving averages, the 50-day, the 21-day, and 8 exponential.
What I want to see from Buckle ( NYSE: BKE ) is potentially a breakout from this downward sloping trendline. Now, you would want to see a move through this downward trending trendline and a strong close coming on higher than average volume. And then for a stop-loss you would probably want to have your risk at around 41.60. And if the stock ends up coming back down here I would probably want to close that trade out because it’s not breaking out.