TRLG Coming Down to Solid Support

The retail stocks have been under some serious pressure for the summer months. But even though this is true, I'm not going to let it stand in the way of using a game-able chart to try and make some money.


The chart I'm looking at currently is of TRLG (True Religion). The stock has been channelling betwen 14.80 ish up to near 24 bucks for about 2 years now. It closed today at 15.38 and is looking like it will soon be at our buy target (the low end of the channel). The trade here is pretty clean cut. You get in at support, if it holds, great, you might just have yourself a huge winner. If it fails, you'll know it quickly as it drops below give or take 14.60.