STOR has been on a rampage since the March 2020 crash. It has been breaking one pivot point after another.
The 2016 highs ($31.44) were broken and served as support in 2019 and support again in Feb 2020. The price broke above again in November 2020 and $31.44 has served as support since.
Now the price is challenging $36.40 which served as support for 5 months before the 2020 crash.
The price did break above $36.40 and if the price makes a weekly close above $36.40 we may be looking at a run at the all-time-highs of $40.78.
A run at the all-time-highs wont happen over night. It may take weeks or even months to get there but until then we'll ride the wave.
Trade idea:
* Wait for a weekly or monthly close above 36.40 as a confirmation.
OR
* Wait for the break but also wait for a retest as a show of confirmation that the price wants to go higher
The 2016 highs ($31.44) were broken and served as support in 2019 and support again in Feb 2020. The price broke above again in November 2020 and $31.44 has served as support since.
Now the price is challenging $36.40 which served as support for 5 months before the 2020 crash.
The price did break above $36.40 and if the price makes a weekly close above $36.40 we may be looking at a run at the all-time-highs of $40.78.
A run at the all-time-highs wont happen over night. It may take weeks or even months to get there but until then we'll ride the wave.
Trade idea:
* Wait for a weekly or monthly close above 36.40 as a confirmation.
OR
* Wait for the break but also wait for a retest as a show of confirmation that the price wants to go higher