{"id":5684,"date":"2019-10-30T09:49:40","date_gmt":"2019-10-30T13:49:40","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=5684"},"modified":"2019-10-30T10:03:32","modified_gmt":"2019-10-30T14:03:32","slug":"snbr-top-breakout-swing-trade","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/snbr-top-breakout-swing-trade\/","title":{"rendered":"Why $SNBR Is Now A Top Breakout Trade Setup"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5686\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2019\/10\/SNBR.png\" alt=\"$SNBR Sleep Number chart\" width=\"311\" height=\"162\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2019\/10\/SNBR-110x57.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2019\/10\/SNBR-300x156.png 300w\" sizes=\"auto, (max-width: 311px) 100vw, 311px\" \/>Sleep Number ($SNBR) may soon be in play as an explosive breakout trade. Here&#8217;s why we like it&#8230;<\/h2>\n<p>Bedding manufacturer Sleep Number ($SNBR) has formed a <a href=\"https:\/\/new.morpheustrading.com\/blog\/find-top-stock-breakouts\/\" target=\"_blank\" rel=\"noopener noreferrer\">bullish basing pattern<\/a> since stalling at $52 in late July.<\/p>\n<p>The pullback from its recent peak is 28% deep (less than 30% is healthy), as the stock found support at its rising 200-day MA in early September, then again in late September\/early October.<\/p>\n<p>The price action recently cleared resistance at $45, and is now forming a short-term consolidation above the rising 20-day exponential moving average, which has crossed above the 50-day moving average.<\/p>\n<p>The daily chart below shows how the stock may be setting up for a potential breakout swing trade soon:<\/p>\n<p style=\"font-family: arial, verdana, 'times new roman';\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2019\/191026SNBR.png\" alt=\"$SNBR daily\" title=\"\"><\/p>\n<p>Note the big volume spike on October 16 was <em>not<\/em> a bearish distribution day because the price closed above the middle of its intraday range.<\/p>\n<p>We are looking to buy $SNBR on a move back above its short-term downtrend line shown on the chart above. We will be looking for such a rally to be confirmed by higher volume.<\/p>\n<p>As always, regular subscribers of <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The Wagner Daily<\/em><\/a><\/strong> will be alerted of our exact entry, stop, and target prices for this trade setup when it triggers for buy entry.<\/p>\n<p>Remember to always use and honor your stops!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sleep Number ($SNBR) may soon be in play as an explosive breakout trade. Here&#8217;s why we like it&#8230; Bedding manufacturer Sleep Number ($SNBR) has formed a bullish basing pattern since stalling at $52 in late July. The pullback from its recent peak is 28% deep (less than 30% is healthy), as the stock found support [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5],"tags":[],"class_list":["post-5684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-picks-analysis"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/5684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=5684"}],"version-history":[{"count":0,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/5684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media\/5686"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=5684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=5684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=5684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}