Price extended sharply to a new high for the year on the basis of the take over bid reported on October 21st, I am expecting a further upside to the price until the announcement which is expected on the November 18th
There is a retracement in the price at 23.6% FIB levels

Trading Plan
1. Enter the stock at current price levels with stop loss set below 38.2%
2. Target 1 at 100% FIB levels or the previous high.
3. Target 2 set at 127% levels or extension from a previous high (caution: on approaching target2 there is a longer term resistance levels which may impede in achieving the target. Will update the trade idea as per my plan and play once target 1 is achieved.
4. Trade to be closed either with profit or loss on November 17th as the announcement could go either ways.

Good Luck! May the price be with you!
Trade closed: stop reached


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