Potential buying opportunity on GrowthPoint properties

Growthpoint Properties has formed a bullish inverted Head & Shoulders formation over the last couple of days. We broke above the neckline yesterday which triggered the long entry. The market has been kind enough to provide a second opportunity to enter on a retest of the neckline @ 24.00. We have tested the R24.00 level this morning and held so far, and hope to see the stock gain some momentum now to move to the formations target of R25.00

Trade attivo:

frustrating trade so far, wobbling around the neckline, but so long as we don't move below 23.50, happy to sit and wait for the trade to move towards the target at 25.00

Commento:

Unfortunately this idea hasn't worked to plan and I would stop out on this breach below 23.50