My take is that it is still a runaway gap and the bullish trend will continue. Reasons being:
1. broke out of a 1.5 years base formation on 31 July (breakaway gap)
2. recent pullback stopped short at the 62% fib support @ 56.30 (ie only partial gap fill)
3. recent hi @ 68.95 is the ATH (all time hi), there is no other historical resistence.
Immediate Stop Loss @ 56.20 (slightly below the 62% fib support). Consider to take partial profit near 69 but ride the rest until a change in trend is evident.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
1. broke out of a 1.5 years base formation on 31 July (breakaway gap)
2. recent pullback stopped short at the 62% fib support @ 56.30 (ie only partial gap fill)
3. recent hi @ 68.95 is the ATH (all time hi), there is no other historical resistence.
Immediate Stop Loss @ 56.20 (slightly below the 62% fib support). Consider to take partial profit near 69 but ride the rest until a change in trend is evident.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.