[MalcolmSm1th]

Below is First Group (FGP.L).

This is one which I believe is leaving a shortish Stage 1 and could be entering a Stage 2.



There are some caveats here as this thing has has false dawns before, but that are what stop losses are for. I has, I believe been in Stage 1 since about May this year after it landed with yet another thump down a long and horrible Stage 4 run which has three downward gaps on this part of the chart alone.

The thing has been trading in the 100-120 range for about nine months and I do think that this may be an early Stage 2 breakout but, of course, history has shown that breakouts in FirstGroup tend to be rewarded with a thunderbolt from on high blasting the stock to even lower depths.

This is, I believe, a potential place to get in and, if so, keep the stops at around 110 or so.

- Malc