ADS breaking out of ascending triangle pattern
Stock: Alliance Data Systems (ADS)
Long or Short: Long
Entry Range: $144.90-145.30
Stop-Loss: 142.16
Chart: Alliance Data Systems (ADS) Daily
Reason for Trade: Here’s another stock that has been on my watch-list for quite some time now, and with the early market strength, it is breaking out nicely above long-term resistance. Stop-loss is tight offering a +3:1 reward-to-risk setup.
Multiple layers of rising trend-lines bodes well for this stock’s chances of continuing to increase in price in the future.
Unless stopped-out, this stock could easily go for 2-3 weeks if it plays out according to plan.
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