The pattern can always change going forward but it is always useful to identify the recent behaviour of a stock.
The reason being, if you were to enter a trade in this stock and price just went sideways, it may become tempting to exit the
trade early. But by understanding that this stock experiences periods of consolidation, it will help you acknowledge that patience is just needed, as the probability of it breaking out is likely.
We are currently seeing momentum to the upside as price broke out of consolidation in December 2017. We may see a period of consolidation soon or price may just continue to trend to the upside. There is nothing wrong with taking a breakout opportunity now but we just have to remember not to worry if the trend decides to go sideways.
The £1.00 round number is not too far away which may cause some sort of resistance for price.
We shall see if the momentum will continue going forward.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!