BURLINGTON : large move awaited
The stock has traded within a very narrow range for 9 weeks.
Neutral view:
This alone supports the idea of initiating a straddle with a 6 months view (August) with strike 205
BUY BURL August205 C & BURL August205 P
and close the trade when the stock reaches above 240 or below 160
Long view
As shown by the CCI 21w, the outlook is bullish.
The CCI could well reach 200
A conservative upside target would be 300
My exact target Fibonnacci target is :
EXP ( LN(120)+(LN(240)-LN(120))*1.382 ) = EXP ( 5.7454 )
therefore 312