Sainsbury £200 to £300 play

Stock should be trading around £300 / + 150% in 18 months. Not a bad trade for investors looking to play it safe in the face of an 'alleged recession' being in the post. The stock has been trading inside this descending triangle for years and just confirmed support on the bottom.

The monthly chart below confirms the bullish divergence.

Giao dịch đang hoạt động:

Bullish divergence continues to grow with MFI support suggested until 2023

Bình luận:

Almost at target / up 40% in 17 months, not bad.

Price action on the 3-month chart is now at resistance - will it break through this time? I don't know. It will eventually.