BH42

Ocado ascending channel breakout profit

LSE:OCDO   OCADO GROUP PLC ORD 2P
Ocado broke out earlier this week from it's ascending channel formation. We had been trading this position over the past week or so and closed our position on Thursday before close of markets with a 16% profit.
Will be looking for re-entry around £17.60.

Comments

Thanks TFFX_. Actually, I don't use a stop as i use a large portfolio to buy and sell shares rather than leverage long or short positions. So only reason I pulled out of the hold when i did was to take the 18% profit form the share sales as it was a fair sized profit margin. In hindsight, should have let it run!
Thanks all the best
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Nice trade. Interested to understand why you traded out of the position, rather than let it run a little more with a tighter stop.
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