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.
Last post: June 15th. See chart .
Review: Price was pulling back after being in a nice uptrend.
Update: Price is stuck inside the consolidation zone and currently at the support area.
Conclusion: We need to see a breakout of this consolidation zone before looking at any trading opportunities.
Any comments or questions, do not hesitate to leave them below....
Last post: June 11th. See chart .
Review: Price was trending up fast after breaking out of consolidation.
Update: Price is producing a pullback. There is a strong support level underneath which consists of the previous resistance turned support and the £10.00 round number.
Conclusion: If the support level holds then it may present a pullback opportunity,...
This stock is featuring for the first time on our TradingView blogs.
Current setup: Price is experiencing a strong trend and does not look like slowing down.
Conclusion: As price has broken through a previous high on the daily timeframe it is looking good for a long opportunity.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs...