Sterling tools given strong breakout to resistance level on daily timeframe. Its Outperforming the index and making new highs periodically. One should go long with Proper risk management above the high. Stock may also Pump up and the return back to retest current levels. Increaing Volumes are indicating good interest of buyers in this Small cap Stock.
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Entry not initiated. Its like a pullback on daily chart. If the stock Breaks the High in upcomming days I will allot 50% of the trade capital and make long positions. Looking today, I dont think entry will be triggered.
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Let the stock break 4th May's High. we can then start alloting some more funds
Great analysis! It's always exciting to see a stock break through resistance levels and outperform the index. I agree that it's important to have proper risk management in place when going long on a stock, and waiting for confirmation of the breakout is a smart move.
I appreciate your cautious approach and patience in waiting for the stock to break its high before initiating a position. It's also wise to consider the possibility of the stock pumping up and then retracing, so keeping an eye on volume and price action is important.
👍 It's great to see investors like you taking a thoughtful and strategic approach to trading. Keep up the good work!
Bravetotrade
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Congratulations and well done for sharing your first idea with the community. Hope you will be having great experience. Thanks for your contribution. From mod @Bravetotrade
I appreciate your cautious approach and patience in waiting for the stock to break its high before initiating a position. It's also wise to consider the possibility of the stock pumping up and then retracing, so keeping an eye on volume and price action is important.
👍 It's great to see investors like you taking a thoughtful and strategic approach to trading. Keep up the good work!