WED 6/17: WBS – BUYING (1/3) @ $76.01

10:57 AM – Going to pick up some WBS this morning as the stock breaks above ROUND-$76 with an increase in volume. The combination of a breakout through resistance and expanding volume is a constructive technical signal and warrants starting a 1/3 position.

ULTRA Trader’s Tip: Breakouts Need Participation

  • Price alone is good, but price plus volume is better.

  • Increased volume suggests that larger investors may be participating in the move.

  • The strongest breakouts tend to attract additional buyers after resistance is cleared.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.