I have been trading this stock for about a year now & based on the support/ resistance lines it appears to have bounced off the old resistance level along with the proce action staying within the channel. I have looked at the 4 hour chart on the MACD and appears to be reversing I always like to buy pre the MACD reversal, I find the gains are bigger. I have a current price target of 508 only time will tell.
What do you think??
Trade active
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Bought 112 shares at average price of £4.4144 to be honest I had FOMO...again Looking increase my position by 100% if price falls to £3.86 level as the price is currently on the support level in the uptrend channel If not I will continue to hold unit the £5.08 level then sell out min of 50% of the position depending on how the trend runs.
Comment
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From looking at the price action it looks like we are in a consolidation period hopefully the next move will be to the upside....we will see
Trade closed manually
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Today the trade hit my target price of £5.08 per share & before greed set in I sold my position & took profits off the table. I will continue to monitor the price action & look for the next opportunity on this stock.