MON 8/31: GLAD – Just Starting to Break Out of a Downtrend as Volume Shows Some Conviction

James F. Taulman
James F. Taulman
James had served as Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system. •

3:38 PM – Starting a 1/3 position in this Finance-Investment Management company as shares begin to break out of their recent downtrend while volume runs 39% above average. The improving price action combined with increased volume gives me enough bullish technical evidence to initiate a starter position.

James’ Trader’s Tip: A Trend Change Needs Confirmation

  • Breaking out of a downtrend can signal an important change in the stock’s technical character.

  • Above-average volume strengthens the move by showing increased demand behind the breakout.

  • Starting with a 1/3 position lets us participate while requiring the stock to prove itself before committing additional capital.

https://buyingbreakouts.com/mon-8-31-glad-just-starting-to-break-out-of-a-downtrend-as-volume-shows-some-conviction/

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