This stock is featuring for the first time on our TradingView blogs.
Current setup: Price is still looking strong as it remains above the 50 & 200 simple moving averages and keeps breaking out.
Conclusion: The recent breakout offers us the opportunity to enter the market as it is making new all-time highs.
Any comments or questions, do not hesitate to leave...
This is a classic set up for me, oversold technicals, strong engulfing bar on high volume alongside decent financials.
Looking at a short term trade:
TP 460
SL 380
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Earnings report was released on the 9th of January 2017 and showed good results, however a 19% decrease in Full Year pre-tax profit caused the stock to fall. I think the stock will recover and continue on a bull trend, following a possible inverted head and shoulder pattern to the upside.
Planning on taking some profits at around 380 and leaving the rest to ride...
