I also rarely trade from breakouts of patterns. I suspect the large short term traders (fund managers, hedge funds, short sellers etc) read the same chart and "push" the share price through the trigger points to make a short term profit. So the breakout is not due to underlying reasons related to the company's performance and therefore the breakout fails. Like you, I attempt to read the trend. I take a small position and add to the position when my hypothesis of the trend is confirmed.
I should add - that is what I usually do. Unfortunately, some times I ignore the signals and think this time will be different.
Anyway, back to crossing my fingers and hoping with NST.
I also rarely trade from breakouts of patterns. I suspect the...
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Last
$14.33 |
Change
-0.240(1.65%) |
Mkt cap ! $16.47B | |||
| Open | High | Low | Value | Volume |
| $14.58 | $14.69 | $14.32 | $54.59M | 3.795M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 667 | $14.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.35 | 10216 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$14.33 |
Change
-0.240 ( 2.12 %) |
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| Open | High | Low | Volume | ||
| $14.62 | $14.62 | $14.33 | 564535 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| NST (ASX) Chart |