Solid Breakout with SosandarLSE:SOS
As my first post I thought I would post this as its an excellent example of the strategy I use. Using the Wycoff method I only trade price and volume, used together they can be incredibly powerful.
The strategy is almost as simple as it gets, its gets rid of the clutter and keeps it simple.
Please note Each of these notations on the charts are added on the day of the of the trade, i.e. I will never add comments back in time, as I am not learning anything.
Back to Sosandar then, the breakout may be in line with some of their earnings, but the signal was clear, sellers were drying up as the stock traded from left to right. This has left the price becoming squeezed upwards. With little supply in the market left....that's right, it has broken upwards.
Always difficult to determine if its buyers or sellers entering but this one looked clear as it started to print higher lows.
No target here, looking to enter on a small pullback, and hold for a continuation.
