Uptrend It is a good passing out from a price level and getting buying position has low amount of risk. Entry suggested by setting SL at a good place and targeting at about 230 as the first one.
Pardis, thank you for all the ideas you have recently posted! What is your experience about stocks like this that drop below the break-out level? In this case, the stock dropped about 5% below the break-out level of 190. How often do these stocks outperform the broad market in the long run?
pardis
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@BlkGold, Hi mate, and thanks for your attention to my charts. As you see it was a good breakout but unfortunately it couldn't act after pulling back and it came down from the line again. Recently, large number of positions have lost their supports and i suppose the reason is weakness of sentiments on markets. By all, I think the chance of rising is more than dropping. totally, this model of breakout has been profitable for my in long-term. In this case, if you are in, stay by obey of your Sl and if you want to enter, I should tell I try not put it as my favorite chart and there are better positions. For instance, Benz and BMW had a good performance after their breakout. Good luck and keep in touch.