The Ashtead Group share price recently gapped up, and I expect based on previous gap fills for this gap to get filled in the next few days, giving investors the opportunity to short sell the stock for profit.
Reverse Head and Shoulders pattern formed showing two necklines one horizontal - neckline 1 - and one diagonal -neckline 2 - giving two different levels for closing long positions first at 2580 and second at 2640
Last post: May 22nd. See chart .
Review: Price was looking strong and bullish.
Update: Price pulled back slightly but looking strong once again.
Conclusion: We can look for opportunities if price breaks through the previous high.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Last post: May 2nd. See chart .
Review: Price continued to look bullish after breaking through the resistance level
Update: Price continues the uptrend and is still looking strong
Conclusion: We can look for opportunities when price breaks a previous high
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!...
Review: Price was using the 50 simple moving average as support.
Update: Price continued to make new highs
Conclusion: The overall trend is bullish and we will be looking for entry opportunities on breakouts.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Ashtead Group PLC – Poised for Bullish break from flag pattern on weekly chart. This goes well with the fact that it derives a majority of its revenue (84%) from North America.
Nice rebound from rising trend line followed by bullish break from flag pattern could yield re-test of 2015 high of 1231.
Caution – Volumes have dropped
