[pcabc]

For the UK watchlist today - AXS.L, IND.L

Isatrader, a question about AXS.L. Maybe this is not the best example but it is a reasonable one:

It appears to me that the shape of the chart if we ignore the MA30 indicates it would be in a stage 3. Therefore any upward movement about the recent range is a stage 2 breakout and any drop below it a stage 4 breakdown. However, the recent wiggling is above the MA30 - so it is clearly in stage 2. Therefore rather than being in stage 3 awaiting a continuation is it not more likely in a stage 2B? I thought for a continuation we had to go stage 2 -> stage 3 -> stage 2. We have not had a clear stage 3 yet.

Just trying to get a feel for what to do with stocks that seem to climb rapidly and then reach a trading range well above MA30.

pcabc