Quicky one worth having a look at Renold RNO, break away gap and a lot of momentum behind it at the moment........

breakout for Renold RNO

British industrial chain maker Renold Plc ' shares drop 14.7 percent to six and half month lows after the company reports weaker sales in the first quarter amid tougher market conditions, prompting FinnCap to cut its rating on the stock to "hold" from "buy."

The company says that there was a marginal overall reduction of sales in its chain business and a slight overall decline in its torque transmission business.

"The group has warned today that a number of territories have seen sales soften as a result of macro-economic uncertainties ... Despite the reduction in cost base, profits are expected to be below expectations," FinnCap analyst David Buxton says.

Has anyone thoughts on this one now? Renold plc is a British-based Engineering Group. I have a small (underwater) position left in my pension, having sold last autumn. Now looking to buy more.

The recent chart is looking better, having recovered from the Feb 16 drop. Three directors have bought more shares.

And the week before last, they announced the soon to be reported profit would be ahead of market expectations.

wait for retracement (-)

Now is still on top of the recent rise at current 42p from top 44p, wait to around 36p to buy.

At the moment all the Indicators are at overbought.

Thanks mentor.

Looking more bullish? Short term MAs flirting with the 200ma for some weeks. Might add to my small pension holding.

Better now chartwise?

Based on the little I know about TA, is this worth a look?