[mongoose1969]

One for the breakout watchlist this week – ORMP is attempting to make a Stage 2A breakout, but hasn't been able to close above it yet. Relative volume is very strong however and it's not got any longer term resistance if it does get above it. Downside is that it's a pharma stock, so more risk to be aware of.

Woo Hoo! That was a stock I just put on the watchlist today to keep track of. I'm starting to figure this out! But I'm confused. My chart on ProRealTime is showing a price almost $3 higher than the 30 MA and a resistance from over a year ago at $10.20. It appears on mine to have already broken above the 30 MA. Is the breakout you are referring to the $10.20 mark that the chart is calling "horizontal minor resistance"?

If so, my thought based on the investor method is placing a buy-stop-limit at $10.25 and $10.50 respectively. My sell stop would be all the way back at $7.75. Seems like a big drop but unless there is another pullback before breaking out of resistance, that's the last pullback to reference. Am I on the right track?