Imperial Tobacco

Broken out...


dl.dropboxusercontent.com/u/4899609/imt050314.png

Gapped up, hovering around strong resistance, one to watch...


dl.dropboxusercontent.com/u/4899609/imt040314.png

Redchilly - totally missed this one, but have put up the lessons learnt on the fridge

2380 - tell me WR2 that you are in!
SL moved to below todays low 2346

waverider2 wrote: Redchilly - some wild moves in the last 2 days.

What would negate the uptrend? Some profit taking probably on friday but what signs would be you looking for this to bounce to keep the uptrend in tact? i.e. would you expect this to bounce on the 20 MA ?
thanks

WR2

I would negate the BUY on this only if it closes below 2222 ( lot of support here - previous low, 2 of 123 low, rising trend line )



my risk on this trade WAS 36 points - it moved almost 105 points since my entry giving me a 1:3 R: R ratio
I have already banked profit on this near 2340 area and have moved the SL for the rest to 2265 so its a free trade

that said - i do think this move north has a lot of momentum behind it
resistance would be 2363 & 2439 (previous 2 highs)

Redchilly - some wild moves in the last 2 days.

What would negate the uptrend? Some profit taking probably on friday but what signs would be you looking for this to bounce to keep the uptrend in tact? i.e. would you expect this to bounce on the 20 MA ?
thanks