[isatrader]

This is something that I have entered this morning, arguably a couple of days late, in the Chemicals sector - SYMTHOMER (SYNT.L). Ideally I ought to have got in a few days ago but I think that otherwise it's a suitable selection and if it costs me a few percent then so be it.


Apologies for the cramped display from ShareScope, I will try to do better.

The sector is going up, the price has just got over the previous high, it's broken the resistance level and generally looks good.

Hi Malc, I'll just give you a quick Stage Analysis on it, as I don't want to unduly influence you on an open position. It's been in Stage 2 for the last year, but had a very rough ride before making a continuation move in late August / early September, and didn't get far before consolidating again under the all time highs from which it's not managed to breakout from yet, but had an failed attempt on Friday. Volume is below average and has been falling for most of the last year, which isn't necessarily a bad thing as with Weinstein's method we are interested in the volume on the breakout week and the following weeks, but UK stocks have volume issues which we've discussed elsewhere on the site, and so it isn't as pertinent. But, if it does breakout and close at new highs this week then you want to see at least two times the average weekly volume to give some confirmation that it's got the interest / strength to move higher. The relative performance zero line is flat and hence it's traded roughly inline with the broad market over the last year, but currently it's above it's zero line and so is outperforming in the short term. Attached is the weekly chart.

   

On another note, I've created a new thread for the UK traders and investors on the site called UK Stocks - Watchlist and Discussion, so that there's a place for UK traders to discuss UK stocks, as this main thread is mostly for general discussion and the weekly updates of the major charts. So go to the UK Stocks - Watchlist and Discussion thread in the Stage Analysis forum to post your UK charts from now on.

Cheers