OCDO

Hi anne,

I'm with remo on this. 123-high trades have a much lower risk/reward ratio in an uptrending share and I doubt OCDO will drop back as far as that.

I reckon this is in a B wave up from the drop to 493p (which was a 67 point move from the 560 high) so an equal sized drop from around the 527/536p level brings it to the breakout area between 460 and 469. Watch out for additional support from the uptrend support too so stops should be below that:

Hi Anne
It could well be a 123 High forming. But
Im not a big fan of the 123 high as most corrections form in a 3 wave pattern . If the markets trends are up then trying to catch a 123 high is risky.
Im expecting a correction to the breakout point at 469 maybe.
This share is in my share tips section for this week
calling a top is a risky business so be careful.



dl.dropboxusercontent.com/u/4899609/ocado20thjan2014.png

annes goal wrote: Hi, could this be the beginning of a possible 1, 2, 3 high forming here, where the selling point would be 493.4 and the target - perhaps for a buy back - 427.3 - ish??

Any views welcome - please be kind; I'm still the class dunce (though loving it!!)

Thanks

Hi, could this be the beginning of a possible 1, 2, 3 high forming here, where the selling point would be 493.4 and the target - perhaps for a buy back - 427.3 - ish??

Any views welcome - please be kind; I'm still the class dunce (though loving it!!)

Thanks