Breakout is a very popular trading strategy and I teach breakout concept here at smarketpremium.com with numerous live case studies.
One such case study this year I shared: Rain Industries
Here's how the breakout looked like back then
Here's what Rain Industries stock has done since then - Up 80% - no wonder breakout strategy is so popular.
That's not all - when a stock breaks out, then every decline results in a new opportunity. Here's one opportunity that knocked few days back with stock at 100 dma
Rain Ind at 100 dma: The stock has done all the right things so far pic.twitter.com/WAxudNgXGH
— Deepak Singh (@smarket) June 22, 2017
It seems like that strategy is working nicely as of now. That's why Breakout is such a wonderful strategy
I am sharing this example to demonstrate how stock price action works. There is nothing certain in the market. Do all patterns work out like this? Absolutely not. Some breakouts move up like crazy and they make up for some of the failures.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers