BH42
Long

William Hill Ascending Triangle Breakout

LSE:WMH   WILLIAM HILL PLC ORD 10P
We have just taken a position in William Hill betting on a breakout above resistance around 122. With global sports returning over the coming months and stay at home stocks doing well, gaming stocks should fare well over the summer.

We will be keeping a close eye on the breakout. Should we break resistance over the coming days, a decent profit should be in order.

Comments

@BH42 - nice call, too late to buy now?
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BH42 virtualtechie11
@virtualtechie11, Hi, thanks. I would see how the stock reacts today after a couple of big sell offs late in the day yesterday. However, we are long and even if there is a short term pullback, we anticipate good returns over the coming weeks on William Hill stock. Providing the support levels hold and we continue on an upward trajectory, we see no reason why a price target in the region of 170-175 can't be achieved.
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@BH42, make sense, what would confirm resistance holds? also where would you set stop loss?

@LindellBrown i think you said the same thing?
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@BH42, weekly chart looks good.. also seems to be heading towards 50 SMA, fundamental not too bad sports coming, although volume seems to be going down in last 7-8 days but volume moving average is going up

Reply
BH42 virtualtechie11
@virtualtechie11, Hi, the next few days will be key, there are clearly a lot of sellers in the current price range, but providing the volume holds for buyers, we should see the bears off and continue higher in the coming weeks.
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