Technical Breakouts Revisited - APC

On April 26th, I gave you two possible technical breakouts. Let's review APC. On April 26th, I put it up and bought it around $44 and said that the key resistance level was $45 and the trade set up for a nice risk/reward. The chart below shows the chart and the commentary from April 26th.

The chart above is the revisited chart, highlighting the breakout from the contained boundaries (highlighted in blue). I said we could run between $46-$54, and right now we are at $52. This is a GREAT move for a natural gas powerhouse, valued over $20 billion in market cap.

RF's 10-Day Return: +18.1%

Disclosure: I sold 1/4 of my position, letting the rest ride.

Original post:
http://trade247.blogspot.com/2009/04/possible-technical-breakouts.html