BeerCanCapital

Inghams Group (ING) Potential for 13% gap up

Long
ASX:ING   INGHAMS GROUP LIMITED
ING getting squeezed tight into this corner, RSI holding above 50 showing change to bullish bias. Possible 13% profit if it breaks and gaps up.

Entry: $3.30 - Just above short term resistance/ breakout line
Target: $3.75 - 13.64%, this area is the top of the gap
Stop Loss: $3.07 - 6% stop loss as that would confirm that it was wrong and trend change

Relatively new to this so I welcome all feedback/criticism.
Trade active: ING broke the trend, although it appears to be forming a cup and handle on the daily and weekly. So will continue to watch with a buy order at $3.30 in case it breaks.
Trade closed manually: Didn't play out as planned, took a small profit from $3.30-$3.35.
Shows why it's important to not jump into a trade too early.

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