BYG trade ideas
Big Yellow Group Pulls Back In An UptrendLast post: April 25th. See chart .
Review: Price had broken through a strong resistance level and looked bullish.
Update: Price is currently performing a pullback but still bullish overall.
Conclusion: We can look for trading opportunities if price breaks the next resistance level and the £100.00 round number.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Big Yellow Group Making New HighsBig Yellow Group smashed through the resistance level but may now encounter trouble at the £10.00
psychological round number if it is to advance higher.
As you can see on the monthly chart, price is looking strong so far this month as it has produced a large bullish bar which saw it break through resistance. Last month's bar poked its head above the resistance level but didn't manage to close above that level.
Seeing that price has managed to remain above the resistance it will be interesting to see is price can close there at the close of the month.
This stock does have a history of good trends so we shall have to see if the past trends can repeat itself. The £10.00 round number may try to put a stop to any trend but if the buyers are strong enough then it shouldn't cause too much problems.
To be on the safe side it may be worth waiting for price to actually break above the £10.00 round number, that way you can have confirmation that there is strength to the upside in this stock.
Let us see how the next few trading days unfold for Big Yellow Group.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Big Yellow ~ Short Swing TradeCapture gains from the imminent bearish swing. The overbought RSI and shooting-star candle indicates that the resistance breakout is most likely short-lived. Hold until it reaches the support/ RSI indicates overselling.
Place stop loss at: 837
Risk/Reward ratio: 5
