New Relic (NEWR): Look at that revenue growth.

Sales

I just exited the trade but will for sure keep watching the stock.

But there’s another thing I wanted to show.

Very clean pullback entry just recently. I first noticed it on May 23rd as it closed well above resistance (blue line) – The Breakout.

It actually provided a nice pre-breakout entry the day before as it coiled and closed just below resistance but I did not catch it.

NEWR

So I entered 1/2 position May 23rd end of day and added a limit buy to catch the pullback should it occur.

May 26th, pullback right to 10EMA line. Limit order hit. Target: 200day SMA.

I actually exited a bit earlier but still a very nice trade a good example of a breakout pullback setup with big reward/risk.