Short and Sweet
A couple of weeks ago I had my eye on $JWN for a potential breakout. That trade never triggered with price pulling back and oscillating for a couple of weeks. Now price has taken out resistance rather convincingly, RSI is breaking out, and the PPO momentum indicator has had a bullish cross. Just as important, I have a clear line in the sand to shoot against.
I bought the July 20 $52.50 calls for $2.55. JWN has earnings after July expiration. Hoping for a run up into earnings. My stop is $52.50; just below prior resistance which is now support