Bullish potential detected for QUB

Entry conditions:
(i) breach of the upper confines of the Darvas box formation for
- i.e.: above high of $4.04 of 28th November (most conservative entry), or
(ii) swing up of indicators such as DMI/RSI along with a test of prior level of $4.00 from 25th November.

Stop loss for the trade (based upon the Darvas box formation) would be:
(i) below the support level from the low of 13th December (i.e.: below $3.80).

Trade active

UPDATE (week ending 03-Jan): Trade activated 3rd January, albeit on low volume at the beginning of the trading year. Share price closed above both 10 and 30 day MA's at the end of the trading week.

Note

UPDATE (week ending 10-Jan): Newer highs formed during the week, with suggestion to raise stop to $3.85 ($0.06 above one tick beneath Darvas box formation). Conservative stop would be $3.84 since former swing low of $3.85 was formed on 20th December.

Note

UPDATE (week ending 17-Jan): Newer highs formed during the week, with suggestion to raise stop to $3.86 ($0.07 above one tick beneath Darvas box formation). Conservative stop would be $3.84 since former swing low of $3.85 was formed on 20th December.

Note

UPDATE (week ending 24-Jan): Newer highs formed during the week, with suggestion to raise stop to $3.91 ($0.12 above one tick beneath Darvas box formation). Conservative stop would be $3.89 since this aligns to a point beneath prior resistance (now support) of $3.91 from the open of 18th November, which was consolidated by the open of 23rd December.

Note

UPDATE (week ending 31-Jan): Newer highs formed during the week, with suggestion to raise stop to $3.94 ($0.15 above one tick beneath Darvas box formation). Conservative stop would be $3.93 since this aligns to a point beneath prior resistance (now support) of $3.94 from the open of 13th/14th January, which coincides with the bounce off the 30 day MA at the time. Trade now upgraded to a 'further bullish potential' trade.

Note

UPDATE (week ending 07-Feb): No newer high formed during this trading week, however it was interesting to note that the 10 and 30 day MA's were successfully tested during the trading week before the share price ended the trading week closing above both 10 and 30 day MA's. Do note that half yearly results will be released for QUB on 20th February, so be mindful of positions prior to this date if risk averse.

7 days ago

Note

UPDATE (week ending 14-Feb): No newer high formed during this trading week either, with the share price closing at the 10 day MA. As mentioned last week, do note that half yearly results will be released for QUB on 20th February, so be mindful of positions prior to this date if risk averse.

20 hours ago

Note

UPDATE (week ending 21-Feb): For those traders/investors who stuck it out through the half yearly results this week, it was a wild ride on the release of those results, but it appears as though the ride is worth it. Newer highs formed during the week, with suggestion to raise stop to $4.03 ($0.24 above one tick beneath Darvas box formation).

Ivory_Wolf

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Ivory_Wolf

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