Cleco Corp. is poised for a move higher. We like an entry at or below $46.80 with an initial stop loss at $45.50. If price violates the rising trendline before breaking higher through resistance up around $48.00, the setup is nullified. Targets are left to the individual trader, but we suggest exiting a portion of the position (if possible) at $48.10 (entry + initial risk) and allowing the balance to either stop out or run much higher.
As always, risk control and minimization are paramount. Be sure to exercise both.