[pcabc]

POG.L is breaking out to new 52 week highs with volume on earnings news. 

It cleared a mini cup and handle pattern pivot point yesterday ahead of earnings. What's know as a Minervini 3C Pattern (Cup Completion Cheat). Which is a cup and handle pattern with a lower handle than a traditional cup and handle pattern.

The main negative for me is that the RS line hasn't followed to new highs as well. As I prefer to see that lead price action.

I'm already in POG.L.  However, I also put in an order to enlarge my position if it drops back near the breakout at 30.  I'm not so sure how you get in at the higher breakout at 32.5 (if you go for the close) or35 (the high) without higher risk.  Putting in a limit order a bit above 30 means I probably will enlarge my position.  33.3 might be a reasonable point to get in, albeit it is rather far from support.  If I put a stop loss at 27.5 that would be a 17% loss, rather larger than the 6% limit for traders.

Note, I'm using limit orders to avoid getting in at too high a price and then hoping to catch intraday pullbacks.