ser64

Breaking out?

Long
NYSE:FUN   Cedar Fair, L.P.
$FUN broke out over the $56.5 resistance level and the 50-day EMA is approaching the 200-day EMA. I will be looking to open a position at that $56.5 level BUT I'd be careful about buying just yet because RSI is reading overbought and the MACD looks to be topping out. I think this will consolidate over the next week or two and if stock can hold around that $56.5 level, I'd be looking for this to fill the $9.5 channel up to $66. There is support at between $48-51 so set your stops accordingly.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.