VMC breaking out and bull-flagging
Stock: Vulcan Materials (VMC)
Long or Short: Long
Entry Range: $53.25 – 53.50
Stop-Loss: $51.67
Chart: Vulcan Materials (VMC) Daily
Reason for Trade: I’m a huge fan of these box formation breakouts. I’ve jumped in at $53.35 and looking for a move north of $56. The last time we had consolidation like this, the stock broke out handsomely. Also notice the bull-flag we have formed – a very good sign that this slight pullback after the breakout is a buying opportunity and not something to be concerned about.
