Some Breakouts deliver instant returns but sometimes Breakout can test your patience for weeks and months. They do all the right things i.e. they maintain the bullish structure, do nice consolidation but they just don’t make a bullish move. They can frustrate you out but the end result is very rewarding.
Let me share one recent example:
India Glycols Breakout
Source: Chartalert.com
India Glycols stock broke out above 145 in Jan 2017 and stock did nothing till August 2017. The stock than just took off and now early Nov – the stock is at 405.
Here’s how Veneys’s rallied like crazy but not before testing patience:
Here’s Exide stock testing everyone’s patience now
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers