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A technical analyst has been charting the price movements of ABC stock. The stock has been fluctuating in price between $63 and $67 per share for the past 3 months. If the analyst expects a breakout through
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A technical analyst has been charting the price movements of ABC stock. The stock has been fluctuating in price between $63 and $67 per share for the past 3 months. If the analyst expects a breakout through the support level, which order should be placed

User Sachin Kumar
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1 Answer

5 votes

Answer:

The trader should orders to buy ABC stock or take a long position to the stock.

Step-by-step explanation:

The stock has been fluctuating for 3 months, hence, its value should be well analysed. Now if there is a breakout through the support level, usually with a good quarterly performance report, the stock is likely to go "bull". Buying and holding the stock is a rational decision.

User Peadar
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