FTSE350 Trade: MGCR

Morgan Crucible Company Plc: MGCR

This is a trade I entered on the 5th Jan which I’d consider to be a textbook ascending triangle. I got stopped out on the on the 13th after being a little too tight on my stop-loss, but in retrospect I’m quite glad as it does seem to have lost it’s pace. 

The move however isn’t over and may still have another go at the target of 288 – if I retraces further and turns 255 into support then I will look to re-enter with a relatively tight stop (probably around 249)

“Trade what you see, not what you think…”

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