The next day, I didn't match out at open (which on hindsight could have resulted in a nice profit of 10c).
Still, it's not uncommon for ascending triangle breakouts to retest the former resistance turned support. In this case, it has managed to close above $7 on both days. $6.99 was touched but probably by those having a stop loss when $7 broke.
I'm still in this, and I'm still looking for a strong move up. MACD still looking positive. Theoretical target is $8 but in this economic day and age, one must be nimble when weakness is seen. I'm ignoring the over sold stocs and RSI as this is a trending stock...
UOB: I had suggested on the day I bought F&N that an ascending triangle looked like forming. And this really came through (crap... went for the wrong stock). End up, I missed buying at around opening time and it flew off. I didn't chase as I had F&N already and thus, opportunity was lost. It climbed a brilliant 60c from breakout point. However, XD is coming with 40c dividends on 7th May.
Theoretical target was 19.80.. which leaves only about 50-60c upside...
Trade at your own risk
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