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JACK in the box: Earnings winner + Ascen.ding Triangle
Jack In the Box (JACK) was up today on earnings before getting stuck at the recent range highs which form the resistance line of a bullish ascending triangle continuation setup. I'm looking for a follow through breakout over 61.50 to start a position for a swing trade (few days/weeks) higher.
JACK chart update here. Testing breakout area on daily again. I'm long some with more defined risk level around 59 based on support there earlier in August.
Good morning Blaine, is it too late to play JACK? Is there any other positions you are currently in?
I still have some JACK, and I manage/open/close lots of positions each day.
Sold out my JACK today, 68.60's, will revisit dips or future setup. Nice swing trade though! Congrats if you made money here as well.
