SHAKE SHACK INC (SHAK) - GAP-FILL PLAY
Updated
SHAKMonthly, Weekly, and Daily Charts are all bullish. Prices are above moving averages on monthly and weekly chart. Waiting for prices to take over 200 Day moving average to enter.
Entry: at $75
Profit Taking: around $83 (around 11%)
Stop Loss: at $71.83 (the supporting line)
Caution: SHAK has high short interest therefore higher risk.
Good luck to all!
Trade closed manually
Closed position due to earning report on Monday 02-24-2020 AH. I don't trade into earnings report. I was expected the prices would have gone up quicker but unfortunately it didn't. Overall, due to last two days market selloff the technical situation is neutral at the moment; not bullish nor bearish.
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