With a prolonged BKL price below a declining 200-day moving average, previously BKL was only useful for shorting, or staying out altogether. The game changer was when BKL first closed above the 200-day EMA at $109.50. Currently BKL is above a rising 200-day EMA. The only negative is MACD bearish divergence on the daily chart. But with today's price action breaking above ~ $120 resistance, this tends to at least temporarily negate any bearish oscillator divergences. Longer-term moving averages are well separated and moving up.
Position size: 4.5% of equity.
ATR floating stop: $118.
With a prolonged BKL price below a declining 200-day moving...
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