breakout?, page-2

Interesting question - I'm not a brilliant short term trader.

However . . . I try to profit from some opportunities in stocks I follow. I wish I did try range trading this one! I don't think this is a stock for a quick trade on a breakout, as it will look expensive (at 20 times) to a trader scannign the market, compared to other stocks on lower PEs, with more volume in this market. This has been more for range-trading IMHO.

Also there are more sellers than buyers within 10 percent of the last sale price.

This has been bouncing between about $3.3 and 3.6 approx for quite a while. It really has broken out - but with little volume - so might be suspicious of somebody playing games to see what happens.

I've been accumulating at an ave of about $3.43 - mostly at about 3.2 ish. (Initially my buy in price was $4.04 (based on expecting to make about 15% per annum over ten years based on past performance - which is still slightly underwater). This is about 12.5% of my aussie share portfolio.

If I can reduce my ave buy in price - will buy more.