CENTURYPLY Volume Dry Up Near BO
Updated
CENTURYPLY has extreme volume dry up over the past 19-20 trading days. Keeping a SL of 4-5% around 795 gives a good entry as the stock has been in accumulation in prior weeks.
Sales has taken a good growth of 9%, 10% and 13% in the last 3 QoQ. This is a trend I particularly look for as beating QoQ in last 3 quarters in upwards trend is rare among stocks.
Tight SL entries supported with good volume dry up is something new that I am experimenting with so a small SL helps test this hypothesis out.
Accumulation helps certainly. Let's see how this plays out...
Sales has taken a good growth of 9%, 10% and 13% in the last 3 QoQ. This is a trend I particularly look for as beating QoQ in last 3 quarters in upwards trend is rare among stocks.
Tight SL entries supported with good volume dry up is something new that I am experimenting with so a small SL helps test this hypothesis out.
Accumulation helps certainly. Let's see how this plays out...
Trade closed: stop reached
Stock didn't move the way expected, would have stopped out at 796, market is not at a healthy breadth level to maybe try out volume dry up trades.
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