From when I wrote about ITV as a pick – the clues of the rise came from the weekly chart – displayed here.
1. The MACD had flattened
2. The Stochastic was rising
These two conditions were the set up. The confirmation came when the price rises too and the MACD solid line crosses its (dotted) moving average. Of course, get in too early and its high risk and may have been a false move. Get in too late, and it’s high risk as it is all but done. The middle is where the meat is in terms of risk and reward.
Additional help came from the Value/Growth and the Overall Rating – marked in the red box.
For the charting and the Value/Growth and Overall Rating – I use http://www.sharescope.co.uk/alpesh