[MalcolmSm1th]

This is one which I have added to my watchlist here. ULTRA ELECTRONICS HOLDINGS (ULE.L) which is in the Defence sector.

This graph is a little cramped as it goes from mid 2010 onwards but you will have to believe me when I say that before this time it rose nicely to this level. In other words we've had a lovely Stage 2run from 2002.

Anyway, so we're at the top part of the chart which seemed to be to look very much like a Stage 3, particulary in 2011. Then the price levelled off and we could well be ready to continue again or it could dive down again.

I would say that we clear the early August high then we could say that we're in Stage 2 continuation or it may just finally tip into Stage 4. At the moment there's no knowing but this is why I have added this to my watch.

- Malc