Another edge
Here's the chart of MXIM:
Another similar set up to many others out there in the market right now. After a decent pullback about 1.5 months ago, this stock has been uptrending. This trade is based on the 2 consecutive closes above a recent high. Although this stock has been going up strongly for the past 4 days, I still think it could continue on for another few days before hitting the target (overhead resistance).
However, if we get some sideways action, or even a slight pullback, then I wouldn't be surprised either. I've got plenty of time in the option purchased for this one.
I bought the August 28 Call for $1.25. You can see the stop placed below the most recent low.
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