[isatrader]

EXE.TO (attached)  seems to be breaking out as the 30 ema weekly is rising and it has broken the long downtrend line. Volume was very large a few weeks back and it is above the cloud. Price is breaking above the SPX price line so wondering if I am missing anything in thinking this is a buy if it breaks above resistance at 8.32?

Thanks,
Brian

So in my opinion the Stage 2A breakout point was back in mid April, when it broke out from the the small raised Stage 1 base and moved through the cloud resistance zone. So the issue that I'd have with it at the current point is that it's extended from a level of support now as it's 3 times it's 52 week average true range (ATR) above it's simple 30 week moving average, and the most recent area of support. So the investor stop loss position would be quite extended if you bought at 8.32, so ideally you'd want it consolidate further and form a higher swing low before making that breakout, and giving the 30 week MA a chance to catch up. As distance to the stop loss position is a key consideration for any trade that you want to make, as you should never enter when it's extended from that point imo.