$SPOT - Breakout Trade Thesis

SPOT gives us the opportunity to play a breakout trade at these levels.

Look to go long if we get a breakout over the 238 level. PTs are 245.50 and 256.60. If all goes well we should capture an easy 8% move.

Look to go short if we get a breakout under the 216 level. This entry is less likely but it could lead to us catching a swift trip down to 211.