EA Looks Poised to Break Out

EA - After a surge from late December to mid February, the stock embarked on a long correction as it retraced around 61.8% of this advance with a falling channel. EA established support in the 88-90 area in July-August and held above this support zone during September-October pullback. Thus, a higher low is taking shape and this could be the start of another leg higher. The stock broke above the red resistance zone this week and I expect a break out of the big falling channel.