The S & P has been trading in a range between 2790 and 2960 since around the 22nd of April. We are now at the highs of the range and could see a breakout in the coming days, or, we trade back within the range once again.
Keep a close eye on this one !!
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.
Further to my post earlier this week, Netflix has now pushed above it's previous resistance to a new all time high.
Netflix broke above resistance yesterday on good volume and closed the session at $454.19 confirming the breakout. We will be looking for a small back test early next week and providing the new support levels hold, higher highs over the coming...
Not one that we are trading at present, but a decent ascending range for any swing traders looking for a scalp on a 4hr or daily timeframe to the top of the range in the coming days - depending on gov news and FTSE reaction.
Currently watching Intermediate Capital Group closely for a breakout from its ascending triangle this week.
A push up with strong volume above previous resistance at 1190 should be confirmation of a breakout. Initial target would be in the region of 1400-1450, then looking for a pull back before moving higher to 1700+ later in the year.
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.