Last post: April 18th. See chart.
Review: Price had just broken out of the previous resistance level.
Update: Price went back below the resistance level then went into consolidation, but has since made new highs and broken a higher resistance level.
Conclusion: We will be looking for long opportunities following the next breakout.
Any comments or questions, ...
Abcam PLC broke through resistance after going through a period of consolidation and now looks like it wants to retest the support/resistance level.
This stocks has been trending well since July 2014 and although the trend is consistent, this stock does experience periods of deep pullbacks.
When trading a stock with deep pullbacks the trader has to bear this in ...
Signs of new uptrend.
Hold till resistance level/signs of bearish reversal
Place stop loss at 1026
Risk/reward ratio: 5
PS: Whilst I am only publishing this now, this idea was not done in hindsight. I entered the position on 27/12/17, at the start of the risk/reward diagram.