Long trade entered Thursday 28th July 2005

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The system triggered a buy signal on this one today, so I picked up a few at 112p, and this is one of those rare examples that don't come along every day.

The chart pattern in this case is best observed on a 5 year time frame.

There has been a clear breakout of long term resistance at approximately 100p, this has risen to 107.75p and then returned back to the old "roof" of the resistance level.

This is a classical example of a pull back, and the usual result is a fast clean upward move.

A minor sticking point may occur at 125p but once this is cleared, it looks set to run to 150 with little trouble.

The system placed a stop loss at 102, and will trail it up.

Although this has been a very dull quiet stock in recent years, analysis of earlier price action shows it is more than capable of making fast moves if breaking into unfamiliar territory.

I expect similar fireworks in this instance.

Well above average volume confirms greater than normal participation in this market