SRPT looking ripe for a breakout above 38
We've been watching SRPT consolidate for a few weeks now between the 35 fib extension support level and 38 resistance level. We've been building our position with $40 calls, adding on drops into the 35 area.
Yesterday, we saw the stock top 38 on the open only to end the day down +4%. With this morning's announcement, we gain a timetable for risk, which makes it's a bit easier to structure trades. The stock is up 7% and getting ready to breakout. Strap in. Looking for a re-test of $42 on optimism.
Yesterday, we saw the stock top 38 on the open only to end the day down +4%. With this morning's announcement, we gain a timetable for risk, which makes it's a bit easier to structure trades. The stock is up 7% and getting ready to breakout. Strap in. Looking for a re-test of $42 on optimism.
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Only a minute or so later, we broke above consolidation resistance. Sitting tight.