Buy Stops Above
Buy Stops Above are buy stop orders, determined in correlation with breakout moments.
When a stock price is towards its resistance level, investors will usually place stop orders just above the resistance price, in order to avoid buying stocks after a breakout, because it is followed by sharp upward momentum. When the price comes back below that resistance level, stop order will turn into buy order again, with new resistance level and stop order placed at the new high.
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