11Jun10:20 amEST

New Age Mobileye Going for the Old Fashioned Breakout

MBLY has been a perennial long watchlist idea inside Market Chess Subscription Services for a while now, with the Israeli self-driving tech firm finally trying to clear and hold over the $48.80 area this morning. 

On the daily chart, below, the light blue lines denote the sideways channel which has encompassed the consolidation in recent months. The stock is heavily-shorted, though, and prone to a sharp squeeze higher if the breakout sticks above that $48.80 level.

Elsewhere, as the market rallies again note the inability of oil and energy stocks to follow-through on rallies of their own. I still see a trend-less, sloppy complex there, but on a bit more weakness may look to short. 

Stock Market Recap 06/10/15 ... It's Good to Digest This Gas


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