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CNC - will the 200p resistance trigger a reversal?I rode a decent trade out of this one below 200p, although I got out too early as usual. The price has now pushed all the way back up to the top of its trading range and this is where I start to pay close attention. Friday’s candle is one of uncertainty, and volume has started to creep back up at this level. That combination at a known resistance level is worth respecting. My best opportunities consistently come from the edges of trading ranges rather than the middle, so there is no rush here. The discipline is in waiting for the right moment rather than forcing a trade. I will hold out and watch how this develops before considering a reversal. Stick to the plan.

by Stockso_Simple

Will the 200p breakout for CNC move through the volume gap?A lovely setup that has been building nicely over the last few weeks. After a long and painful fall, the price has been consolidating sideways and last week delivered exactly what we were looking for. A strong bullish candle clearing the 200p overhead resistance on very strong relative volume. The price has held above that level into Friday too, which is encouraging. The volume profile on the right tells an interesting story. There is a notable drop off in volume traded between 208p and 260p. Thin volume areas act like thin resistance, once the price enters that zone there is very little to slow it down. Coincidentally earnings are due on Monday. That could be exactly the catalyst needed to punch through that gap. Lets see what happens. Price target: 270p Potential Reward: 30.16%

by Stockso_Simple

Concurrent Technologies Plc

In-depth trading ideas