MozzaB
Long

Long Shire to the upper trend line at ~£50

LSE:SHP   SHIRE PLC ORD 5P
94 4 5
SHP             looks like a buy between~£41.75-45.00.

A close below the trend line would make me pretty nervous and I'd probably exit the trade. In the current environment I suspect that with indices at all time highs it would be a macro factor that would trip people out of the trade than a company specific factor.
I have a larger triangle which could take a while to play out

+1 Reply
MozzaB cajimbi
@cajimbi, That looks like a pretty good call too. Best of luck with your positions and Merry Christmas!
+1 Reply
Do you put the initial target above the previous high?
Most likely SHP price would retrace after testing resistance line in 5180 area.
Reply
MozzaB rauan
@rauan, Personally, I'm never too fond of putting specific targets, as I tend to move in and out of positions in profit depending on where I can find volatility to capitalise on elsewhere. Realistically, you're probably right re. a retrace at the 51.80 level, but for me, this would be a good buy around this £44.00 level, with a look to exit ~48-50.
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