Saturday, November 24, 2012

Noventa - a volatile trend?

One of my current long positions is in this UK stock, Noventa (chart below). On the chart you can see the breakout early last week, which was my cue for opening a position. The chart showed all the characteristics of a long set up that I like, therefore there was no hesitation in opening the trade.

The price gapped up yesterday (Friday) on news released, but those gains were eroded across the day. However, the chart to me still says that a new trend has begun, albeit a volatile one at this stage, and I will simply sit in my position until an exit signal is given.

No comments:

Post a comment