Sublime_Trading
Long

Burford Capital strikes through another resistance level

LSE:BUR   BURFORD CAPITAL LIMITED ORD NPV
Burford Capital LSE:BUR breaks out again.
After the breakout of consolidation I mentioned in my previous post https://uk.tradingview.com/chart/BUR/YTm... that I will wait for the next breakout before entering.
The reason for this was to make sure the breakout was not a fake breakout.
We now have another breakout but the pullback only lasted for one bar. We would prefer to see a deeper pullback ( bullish flag ).

Another reason for not entering this trade yet is due to the FTSE 100 TVC:UKX breaking below a strong area of resistance yesterday.

What we would like to see now is for the FTSE 100 returning back above the support area to ensure we still have strength in the market.
Keep this stock on your watchlist and more updates will follow.

Any comments or questions, do not hesitate to leave them below.

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