So i have been updating this blog a bit more than i suggested a week ago but i have been seeing a few things that have interested me lately. BLY is the only one that is not really co-operating but she will come around :)
Anyway i thought i would show you something with JBH, This stock has been pretty amazing to watch this year and it seems they are almost the only store people ever go to, everytime im at the shops all i ever see are these tiny little yellow bags and girls like these...
Anyway they are nice but lets look at the chart people.
I Am going to show you the 4 hourly chart first which is showing that we should be going long on her for a little scalp, i think she is gonna head back up to $23 but this will be the key now, if it cant make a new high from here above the $23.55 then it will be confirming a downward move, idealling a double top would be fab for a short :)
Next i show the daily, this also shows that we should be going long seeing as it closed aboce the trendline and rallied up from here, now watch her to see if it can break to a new high or will reverse. If i had long term stocks and i saw this happen i would be selling boys you have had a good run :) dont be greedy.
Anyway then from here i would be shorting and looking for a target of 19.58, might even go further but like i said no point in being greedy. Stops aboce the high at 23.72.
Low risk to Reward play but make sure you wait for the confirmation!! Remember not following the crowd sometimes is the most profitable but it could also hurt. shorting JBH at christmas is a scary thought but maybe i just wont shop there!!
Anyway try not gettin emotional about trades and just trade what we see it works much better.
JBH its time you give someone else a turn!!! GO HARVY NORMAN GO hahaha
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