Well it seems that everyone loves fast food. And it seems they think people will be eating more of it over this 4th of July holiday. I don't want to dwell on missed opportunities too much but I am putting this up for my own sanity and education. I watched CMG move about the descending triangle yesterday and thought about adding a call position on this. Coulda, shoulda, woulda. Ultimately I felt that the volume wasn't large enough and given the short week, didn't think the players would be around to follow this through.
Here is the chart from today. Volume is coming in much higher today than yesterday and the price is following through. Also breaking about May highs. I may have missed this break out but if it can hold about the May highs by the end of the week, I still think it has room to move in the coming weeks as well.
Have a safe holiday.
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