Bovis Homes Group Head and Shoulders Formed

Apr 23, 2018

For our last post on LSE:BVS which you can find here we had the expected breakout we were waiting for. We mentioned that we were now waiting for a second breakout but price looks like it has other ideas.
You may feel that you are missing an opportunity by not taking an initial breakout and seeing price move fast in the direction you were expecting. Not to worry because over the long haul it will pay off as you will avoid getting into trades that have fake breakouts.

Seeing price continue to move up is a good thing because it is a sign that the stock has strength to the upside.
There will be a pullback at some point because price does not just move in a straight line so we must be ready when the pullback appears to take the next breakout opportunity.

Before the move up we can identify an inverted head and shoulders pattern which is a strong sign of a continuation of the bull trend.
Price also used the 200 simple moving average so it will be interesting to see how big the trend will be.
Remember to add this to your watchlist and take advantage of the next opportunity which may be soon.

Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!

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