Yoma Strategic a mid cap stock recently reported its results on 10th Feb which saw it moved down after their announcement. An interesting thing is that Yoma Strategic is still within its support range of 0.575.
From the chart we can see that it’s been hovering from 0.575-0.615 range for the last 7 months or so. Today it had some movement up to 0.615 with an increased in volume. Yoma Strategic is currently in our watch list and if this counter manages to break out a this range convincingly we could see it march towards 0.64 then 0.67.
Our entry would be around 0.62-0.625 depending on how you see the breakout and it shouldn’t close below 0.615 for it to be a valid breakout. Our stop loss would be 0.57.
For this counter we would use Poems CFD to enter as we might want to swing this position.