Paddyboy: price should close above 2.8c (not just at 2.8) with...

Paddyboy:

price should close above 2.8c (not just at 2.8) with good volume to be a solid breakout.

If you look at the last two days the price gapped between 2.7 and 2.8, and intraday was higher than before so that's a moderately good sign. The volumes were good but not as huge as the run from 2.1 to 2.8. So not quite a breakout yet.

Gap fans would want that gap to close so I wouldn't be surprised if there was a fall back to 2.7. Also, the price might push up to around 3 and pull back to 2.8 before heading back again. Pull backs in breakouts are common.

TA is usually an accumulation of evidence rather than single "bingo" moment. When you choose to enter depends on your risk profile. How you set your stop loss: likewise. Of course one can make multiple entries as the trend gets stronger. "Pyramiding up" in general is far safer than "averaging down".

One thing to note which hopefully won't apply to ABU. Not all breakouts work. Sometimes a stock will breakout and look fantastic, then pull back below the support/resistance line. This is often a very strong sign that the trend is over in a big way, particularly after a long trend (which doesn't apply to ABU).

AT least that's my take on the situation. Counteropinions welcome.