OCDO | Bearish H&S Rejected on long-term upwards trend
I am really happy to see that what was looking like a Bearish Head & Shoulders pattern has been rejected on OCDO's longterm upwards trendline.
The setup has drastically improved as we can now see an Ascending Triangle breakout set-up that will likely see this stock in for a slow, low volume grind back up to ATHs.
20- and 50-day moving averages have also improved drastically and are on the rise.
In terms of Fundamentals, this company has been reaping the benefits of extended lockdowns in the UK for its Grocery Delivery business, which is probably why the ~2150GBX support level held.
I'm liking this LONG: any thoughts?
Thanks and Happy Trading!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
The setup has drastically improved as we can now see an Ascending Triangle breakout set-up that will likely see this stock in for a slow, low volume grind back up to ATHs.
20- and 50-day moving averages have also improved drastically and are on the rise.
In terms of Fundamentals, this company has been reaping the benefits of extended lockdowns in the UK for its Grocery Delivery business, which is probably why the ~2150GBX support level held.
I'm liking this LONG: any thoughts?
Thanks and Happy Trading!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
Comment:
This is back for another round of growth. It's a stretch, but we could see ATHs by March...