RE: Watchlist - Investor method - SBRY.L UK:SBRY
It's not an ideal set-up but it might be of interest for ISA investors. I missed it a week or so ago, but there was a continuation b/o in large cap supermarket Sainsbury SBRY last week at 360p now 375p. As this is generally a slow-moving share not one to chase, he tactic should be to wait for a retrace to 360p.
There is big 2010 resistance at 400p, but above that there is a large Autumn 2007 gap and a summer 2007 high of 600p to aim at, so this might be approached as a multi-part position, with the first part as a spreadbet
It is a 4% dividend stock and ISAble, and though this might make it temporarily attractive, a question to ask is who the buyers will be as the stock price rises and the yield becomes less attractive.
http://tinyurl.com/d5l7e6l