A Minervini Volatility Contraction Pattern (VCP) within a confirmed uptrend is a great way to identify super-performers ready to break out. The pattern shows price action with higher lows while volume is decreasing, signaling that sellers are dwindling and what is left are long term holders. With a little additional demand, and no supply, prices can accelerate quickly.
This one has been developing for 12 weeks. And its Apple!
The 10d ATR (x2.7) suggests a tight 5.59% stop which would allow for an R17.88 position size.
You could also use a technical stop at 112.59 (7.71%) stop from the 121.99 buy point with a position size of R12.97.
Either way it will be exciting to see this one break out after going sideways for awhile. It will be a boost to the whole market.
This one has been developing for 12 weeks. And its Apple!
The 10d ATR (x2.7) suggests a tight 5.59% stop which would allow for an R17.88 position size.
You could also use a technical stop at 112.59 (7.71%) stop from the 121.99 buy point with a position size of R12.97.
Either way it will be exciting to see this one break out after going sideways for awhile. It will be a boost to the whole market.