Focussing on the recent movement in St George Bank SGB, an ABC trade stands out as one to watch. SGB one of our major banks has been trending quite strongly since early February of this year. Using the ABC trading plan, which works most effectively in a strongly trending market, and applying the ABC Hilites in the software it identified a long trade this week on SGB.
The potential trade was signalled on February 22 and the entry was made on the 23rd at $20.49. Five days later we are still in the trade based on our rules with Friday’s data forming an inside day on slightly lower volume. Based on the entry at $20.49 and Friday’s close at $21.13 the trade is up $0.64.