BH42

William Hill Ascending Triangle Breakout

Long
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

Good prediction, looking good at the moment, i reckon it will keep going upto 165-1175 as sport returns and stall there, what you think? Bookmakers are opening earlier than expected on the 15th too.
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BH42 jumpinjammers83
@jumpinjammers83, Thanks. Yes, I will be looking to take profit around £160 or just below, dependant on what happens until we get there in the overall markets.
Volume has been increasing daily which is good, apart from today, so I get the feeling that the sellers have now run out of steam and we could be in for a good few days.....

I hope....if I am wrong, then the lack of volume means that the buyers have lost interest! That said, a £1.4M buy just after LSE close via an uncrossed trade looks positive. I don't think those with £1.4M to spend on one stock normally buy shares if they are expecting a drop.....or so i hope.
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@BH42, Hopefully the confirmation of the premier league and seria a today will pique buyers interest. Mid June should have all the 4 big leagues back on, shops reopen, horse racing back and royal ascot! Fingers crossed and good luck mate!
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@BH42, where do see the trades made? i.e 1.4 million order?
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@BH42, Hope you took a profit at around 160? I took out a third of mine thanks to your post, how do you see it going from here?
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BH42 jumpinjammers83
@jumpinjammers83, No probs, glad you made profit here. I actually came out of my position at 156 in the end as i saw a fair bit of weakness in the price.
+1 Reply
Nice call - I have been watching this one for a bit now. I'd like to see it push higher through the current resistance area with some stronger bodied candles - OBV is moving in the right direction, so hopefully we continue to buying strength coming through.
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@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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