End of the road for JD Sports???
After a long run by this profitable stock, could the recent pullback spell the end of the big trend?
Taking a first glance at this stock would make many traders invested in this to run for the hills banking their profits (or losses).
This wouldn’t be such a bad thing if it follows your trading plan exit strategy.
Looking carefully at the chart you will notice that the current pullback is actually the same deepness as the pullback from June 2016 which was as a result of brexit.
This pullback has also come down to the $4.00 round number so we could potentially see price start to rise again but nothing is certain right now.
The only thing that can confirm a continuation of the uptrend is a break and close of the 11th April high at £4.62.
Follow your trading plan and if you do get stopped out then you can always re-enter should the trend resume and we have a breakout.