RE: UK Stocks - Watchlist and Discussion
Here's one to watch possibly, chart for Anglo American and its sector
Sector is in stage 1 and about to break out, and Anglo is forming a double bottom with rising volume. Three negatives: the relative strength to the FTSE100 is positive, but not that strong and there is further resistance above, giving a 1:1 risk/reward and lastly the P&F chart is showing a firm downtrend..as does the monthly in stage 4
however, according to the book, only the resistance would be a factor as well as the RS rising and showing more strength.
I'd like the RS to increase slightly and begin rising and I may use this as a first one to watch and see. Certainly not the best.
As an early voyeur to this method, I can see that there will be many many more opportunities than P&F which could test the patience of a saint sometimes