Thought I'd flag this for any traders out there - Volex (LON:VLX) looks to be setting up for a possible breakout.
Consolidating into the Moving Averages, clear trendline, tight price action, good fundamentals, shaping for a MACD crossover, and voume drying up.
Stop Loss placement just below the 50MA for risk management if entering.
Fair Point :)
I do hold, and I also have buy-stop orders in place just above the pivot (breakout level)
Sorry, I misread that.
Should be Breakout Trader.
Has it not already crossed over the MACD line?
Duly noted and amended - macd hasn’t quite crossed over, but looks like it’s about to do so.
Monday could see it pop.
Thanks. MACD, I see why I have a difference, my chart was set to weekly not daily.
It is also above the 30 WMA, which is a Weinstein buying signal, although volume is not large.
Positive AGM statement today, and something of a breakout - although it seems quite half-hearted at the moment.
Not seeing big volume coming in yet.
This may consolidate further, but it shaping up well (technically and fundamentally) for upwards momentum in the near future IMO.
Great thread here peeps - thanks for your efforts Breakout - nice to see the live progress of one on the bubble so as to speak - particualrly where the company prospects are decent and it ticks most of the green boxes on the stocky algorithm.
Hi Breakout. Thanks for the analysis. Can't fault your logic. Combined with Paul's positive comments I now hold.
Another technical observation here.
As well as the short term (daily) technical signals, on the longer term (monthly), it looks like we are on the verge of a bullish MACD crossover:
In the past, this has coincided with the start of a significant updwards trend kicking in, most notably here in early 2009.
In the interests of balance, its worth noting that the next crossover was during a long-term downtrend and did not signal upwards momentum returning.
Possible breakout attempt today, but still not seeing real volume behind it:
Not convinced this will stick, as the main indices are weak today, red pretty much across the board:
Volex still looks like it will do well when the markets pick up, and this breakout may kick on - but I wouldn't rule out a short-term move back into the base, or even a shakeout before we gain some momentum.
