DPH - 200 MA supportWe have seen price drop towards the 200 MA which acted as support. I would like to see price head back towards the 3000 price before looking to enter this stock. A break of the previous high with other key factors, i will be looking to enter this trade.
1PK trade ideas
Dechra Pharmaceuticals Fake-BreakoutLast post: June 3rd. See chart .
Review: Price was approaching the resistance level.
Update: Since the last post, price broke above the resistance level but has failed to stay there and has now fallen back below that level. The breakout was a fake breakout.
Conclusion: We need price to break the resistance level again and stay above it before looking for trading opportunities.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Dechra Pharmaceuticals Looks Set To Breakout SoonLast post: Feb 28th. See chart .
Review: Price had broken a resistance level with a strong move to the upside.
Update: Price continued to trend higher but is now in a period of consolidation.
Conclusion: We will be waiting for a breakout of the resistance of the consolidation zone before considering a trade.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
A UK STOCK MAKING NEW HIGHS!Dechra Pharmaceuticals LSE:DPH has been consistently growing since it launched on the UK Stock Market in 2000
where it opened around £1.25 and now currently stands at £25.
Although it has consistently risen ever since, the trend does contain deep pullbacks so if you decide to trade this stock
then you will have to ride through periods of pullbacks that do last for quite some time.
Patience would definitely be needed with Dechra.
In the most recent pullback, price went down to a level of support from 2 previous resistance levels.
After finding support there, price found the strength to journey back to new heights and clearing the previous
all-time high. If price can remain above the resistance it recently broke through (purple line) then we should
see further moves to the upside.
Some traders may ignore stocks which have deep pullbacks but as long as the stock is a consistent grower then over time
it should produce you plenty of profits.
The pullbacks would offer you ample opportunities to compound by buying new positions when price falls to the support areas.
Looking at the recent pullback area, taking a position there would have put the trader into profit almost immediately.
If you did miss the breakout opportunity to enter then wait and see if price falls to the new support area which is the
previous resistance (purple line).
One to keep on your watchlist
