alibeats

Dominoes riding the Rona wave

Long
LSE:DOM   DOMINO'S PIZZA GROUP PLC ORD GBP0.00520833
A new pivot point has been created, Dominoes was having some issues with their bigger franchises hampering their ability to expand in the UK. They seem to have kicked that to the side and are now happily expanding. The share price reflects this, however we have seen this area of the chart as a key resistance level, so it will be critical to see some accumulation at this point by the institutions. If this drives the share price upwards to create a new base level then we can expect to see further upside. A fairly tight stop loss will be required as the main true support levels could be as low as 290p. An initial entry at the 360p level as a starter position is ideal. If accumulation does occur then this will allow a scale in and raising of the stop, for the benefit of a breakout to the upside.
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