SBUX Note: Break-out LONG

I've been watching SBUX - I had a short bias in this triangle consolidation and down-trend channel but today it made significant breakouts in 2 time-frames daily/weekly on both technicals.  The volume was supportive as well - took the signal long to follow my system. Will focus on the weekly close from here.

Week In Review [WIR #16]

Trade Idea [GG-NYSE]

Spent some time on GG chart tonight - thought I'd share my views - here is a snap shot of what I see. Feel free to comment or ask questions.

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Short GG @ or near 34-36 - current price developments:

i)price approached(ing) upper boundary of positive price channel in green

ii)resistance @ price level of ~34-36 - price attempted tp break out of this resistance on 2 occasions circled in gold 

iii)possible price retrace to lower boundary of positive price channel

STOP:

break of 36

Counter Trade:

Break of the ~36 resistance would warrant a long into a price of 42 short-term

DJIA - Oct.06.2008

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