FLR breakout and short squeeze potentialAs PYX breaks its major downward trendline, a long position is entered with a tight stop.
As this trade progresses, shorts will be forced to cover, creating a potential for a parabolic move north.
Factors leading to the decision:
Long-term downward trendline broken
Decent bullish volume showed up at the low, noticeable to traders looking for a sign of reversal
A recent small retracement created a higher-low which is an ideal place to put a tight stop for the trade
20 SMA was recently crossed and held, luring in MA traders
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
