Trade of the Day: Another Breakout in Digital Alley (DGLY)

I first highlighted DGLY back on April 11th in a Top Breakouts post, then again on April 17th as it broke out of a base with big volume.  Today it continues to surge higher, producing yet another breakout from a short consolidation.  The stock actually broke out of a triangle formation just two days ago, but reversed sharply and closed in the lower half of the range.  It wasn’t enough to stop the momentum as institutions continue to build positions in this emerging company.  Today, it cleared an all time high and volume looks like it’s going to come in at nearly 4x the average.  It’s a bit extended at this time, so considerably more risky then when I first profiled it but it still has tremendous momemtum behind it. 

digital alley dgly breakout

Disclaimer: I absolutely own DGLY.

Leave a Reply

Your email address will not be published. Required fields are marked *