Trade Ideas: STX

This is a decent, counter upside break, from what looked to be a sideways consolidation, as part of a bearish decline. The MACD "buy" confirmation lends weight to this play. Stops can go on a loss of the recent channel. Watch for resistance at the former support line (now resistance) and/or $28.15. A break of latter resistance would favor a measured move to around $38. The point-n-figure chart holds to a more ambitious $56. Take this one step at a time.

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