JD Sports (JDL UK) - Buy
I've placed a buy order on JD Sports at 402 with a TP at 500 and SL at 360 just below the 200MA.
I believe the company has great growth potential with outstanding financials. Q1 results are out tomorrow hence the reason for the order above the current price, we could see a gap up but I will monitor it in the morning to see if we miss my entry, if so it will be manual dependent on opening volume. If results disappoint price will move down so with the buy order above we should not have any issues.
Technically price is oversold with RSI and stoch both indicating oversold levels. Price closed on an outside day with higher than average volume.
I believe the company has great growth potential with outstanding financials. Q1 results are out tomorrow hence the reason for the order above the current price, we could see a gap up but I will monitor it in the morning to see if we miss my entry, if so it will be manual dependent on opening volume. If results disappoint price will move down so with the buy order above we should not have any issues.
Technically price is oversold with RSI and stoch both indicating oversold levels. Price closed on an outside day with higher than average volume.
Order cancelled:
Large drop on open so trade invalid. Still believe this is a good buy so will monitor for entry at later date.