On 19th June 2013, a shooting star was formed. The stock dived and if one managed to attempt a technical rebound play, a 10% profit awaited.
For 2 weeks, the price was struggling to pierce through resistance level.
According to Investopedia,
What Is a Breakout?A breakout is a stock price that moves outside a defined support or resistance level with increased volume. A breakout trader enters a long position after the stock price breaks above resistance
One fine day, there was a breakout. Price inched higher than resistance level with increased volume.
But followed by a doji and a hanging man. Should one followed the trading plan, of awaiting 8% profit, one can easily achieve that today.
8% profit in ten days' time!
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