Friday, April 24, 2015

Chart of the day: Sketchers

Today's stock chart of the day is Sketchers. The stock broke out on huge volume after posting knock out earnings.

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There are a number of ways to play this earnings setup. The breakout pullback requires patience, waiting for the stock to form a trading range or pullback to the bottom of the breakout bar. A more aggressive strategy is to enter here with a loose stop. If employing this strategy, make sure to lighten position size and keep risk small.

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