Qinetiq breaks out after 4 yearsBreaking out of rectangle patter formed since Feb 20 should mean an upside target of 648.
Good results & defence industry make it more resilient in the face of other factors affecting the economy (e.g. election and recession).
Do your own research and this is not a recommendation to trade in this stock.
QY6 trade ideas
Breakout day for QinetiQ - expect pullback to retestWeekly chart: Triangle formed with 2 or more touches to both its upper and lower lines. Early breakout too and could signal a rise to 587. However, if this goes to form, it will retest the upper triangle line at 339 before heading higher.
WARNING: This is not trading advice and just my own technical analysis. Do your own research and trade your own rules.