Bullish potential detected for SLR

Detected 30-Apr (detailed commentary and full scan results available in the signature below - will be covered in next commentary). Not activated as at time of review of 30-Apr.

SLR represents a potential bullish opportunity should momentum continue and newer highs be made.

Entry conditions:
(i) breach of the upper confines of the Darvas box formation - i.e.: above high of $1.49 of 19th April (most conservative entry), or
(ii) swing up of indicators such as DMI/RSI along with a test of prior level of $1.465 from 22nd April.

Stop loss for the trade (based upon the Darvas box formation) would be:
(i) below the support level from the low of 23rd April (i.e.: below $1.33).

Comment:

UPDATE (week ending 03-May): Share price closing between the 10 and 30 day moving averages, without activating the trade (share price had not traded above the area where the bullish potential had been identified). Suggest to sit and wait at this stage.

Trade active:

UPDATE (week ending 10-May): Trade activated on 10th May as share price exceeded the top of the Darvas box formation.

Trade active:

UPDATE (week ending 17-May): Stop loss raised to $1.43 ($0.11 above low beneath Darvas box, based upon the high achieved from the candle of 16-May). Share price closed above the 10 and 30 day moving averages at the end of the week.