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High Tight Bull Flag Forms in Retailer Sustaining Strong Uptrend

by | Dec 29, 2024

Burlington Stores (BURL) shares of the apparel retailer are forming a high tight flag as the Bollinger bands squeeze and look poised for a breakout to new highs that can likely test the 300 round number level above here. BURL has a path towards 320 as well going into early 2025 as that is a large VPOC overhead from a prior year still yet to be tested and the weekly chart is staying in a solid uptrend, now up 50% year to date. BURL has a lot of January bullish open interest still with over 7700 of the Jan $260 short puts holding and the Jan 10th $270 puts sold to open 1950x at $2.30 recently.

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