- This stock is on our watchlist but no entry yet!
- We can see two good upward waves where the bulls are pushing the stock higher (Blue arrows)
- We can see a total of 6 bullish pin bars (green arrows) where the Bulls are trying to push the price over the 200 day moving average
- We also see an inside bar formation (Two white lines)
- The only blocker is the...
Following confirmation of a head and shoulders top pattern it looks like the price is moving up to test resistance one more time before I forecast the price will plummet to a target around 662, with a volatility stop placed around 855. This forecast is supported by high RSI.
Wait for confirmation of the price showing signs of dropping before entering this trade.
Britvic is buy for me from 804.
Price has held the 50ma on some decent volume with a nice break higher today just popping through the 800 level. Price could retrace from here slightly but I believe long term this is a sold company. Financials look good. If price breaks 820 we should have a clear run up from there.
TP 890
SL 760
I decided to take the significant profit on this trade even though it may be about to break to the upside. Just a feeling it has been too flat for too long and markets may pull-back after the "irrational exuberance" following the FED hike. Good luck if you are still holding.
A potential long trade appears to be setting up on Britvic, with a confluence of multidiagonals in mid April.
A drop below the lowest diagonal would make me re consider the trade, but until late March/early April this is one to watch.
