It is clear from the daily chart trace of Plexus that the shares have been very much in consolidation mode since the December peak towards 300p. However, what is very positive here is the way that having seen the shares come up from the 100p zone this time last year, the retracement zone been around 50% of the gain.
Although winning awards can be the kiss of death for even the best of businesses, so far The Chief Executive Officer and founder of oil and gas engineering group Plexus Holdings being awarded Entrepreneur of the Year has not had a detrimental effect on the company.
While some stocks may leave us scratching our heads on a fundamental or technical basis, or even on both, the real secret to getting it right is to go for the set piece situations where the indications are very difficult to question.
One of the toughest things to do even in the most bullish of stocks and markets is to work out when to re-enter a position after the price action has cooled off and a new leg higher is in the offing.
