VillageTraderZA

Some great wind at the back

Long
JSE:MRP   MR PRICE GROUP LTD
Position

Everage Entry: R181..99
Quantity: 4
Stop loss: R163.95


The stock looks very good. I entered the trade on the break of the cup and handle and the R149 - R177 box. It recently broke to the R178 - R205. Still trading at the bottom of the R178 - R205. There’s a nice combination of bullish chart patterns. Head & Shoulders and Cup & handle . The neckline being. R187. There’s a great deal of wind at the back.

Daily chart .

There’s a nice bullish flag on the daily chart . Waiting for a break for the flag and close above the R187 (Neckline of the Head & Shoulders pattern) then I will add to my position.