PLCE is setting up for breakout

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PLCE is setting up for breakout

February 01, 2016

Pradeep Bonde

Market monitor suggests time to be aggressive. This might be the start of a new bull move or at least few weeks of tradable rally. Time to start looking for anticipation setups ready to breakout.

What makes a good anticipation setup?

series of narrow range days in pullback/consolidation
orderly pullback with no 4% plus breakdown during the pullback or consolidation
low volume pullback
low volatility during pullback
linear first leg if looking as continuation setup
Stock should go up smoothly and not in volatile manner
3 to 10 days consolidation/pullback
not up 3 days in a row

PLCE is an example of such setup currently. It is setting up for possible breakout from this level.

Other stocks setting up for possible breakout are : ANFI ALRM PLAB

To find good anticipation setups you need to develop a daily process flow and scan for them.

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