we remain in an environment where quick hits are the highest probability trades. as such we need to find nice and tight patterns that allow for clear stops and profit targets. one such chart is that of ZUMZ:
- nice tight consolidation patte here below resistance around $22.
- nice gap (gray zone) as profit target
- nice defined stop below consolidation zone…around $20.40
- the 200 sma (red line) comes into play soon but the gap's force may be able to suck the stock up to the $25.25 area
- a solid daily close above $22.50 sets up a bucket 2 trade to the long side.