Big Yellow Group smashed through the resistance level but may now encounter trouble at the £10.00psychological round number if it is to advance higher.
As you can see on the monthly chart, price is looking strong so far this month as it has produced a large bullish bar which saw it break through resistance. Last month's bar poked its head above the resistance level but didn't manage to close above that level.
Seeing that price has managed to remain above the resistance it will be interesting to see is price can close there at the close of the month.
This stock does have a history of good trends so we shall have to see if the past trends can repeat itself. The £10.00 round number may try to put a stop to any trend but if the buyers are strong enough then it shouldn't cause too much problems.
To be on the safe side it may be worth waiting for price to actually break above the £10.00 round number, that way you can have confirmation that there is strength to the upside in this stock.
Let us see how the next few trading days unfold for Big Yellow Group.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Join Our Private Community
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join Our Private Community
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.