Trading Observations

WBA looks like it has formed a cup and handle pattern on the daily chart. 

The volume is twice the 30 day average vol of 3.9 million giving confirmation to the breakout . Stock looks tighter on a weekly chart but weekly volume not quite there yet.

Low IV would suggest a call debit spread or long term call option here.

Target if pattern follows thru would b around the 98 area.

Daily chart:

Posted to Stock & Option Scout on Feb 11, 2015 — 3:02 PM

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