[[Start here]] → [[Journals]] → 2023-06-15 --- ![[warpaint.png]] It's another weak day on AIM, and even for the FTSE 250. But Warpaint announced a "[significantly ahead of statement](https://app.stockopedia.com/share-prices/warpaint-london-LON:W7L/news/warpaint-london-plc-trading-update-urn:newsml:reuters.com:20230615:nRSO7681Ca)" today, which sets it up nicely for a breakout. As Paul said: > "Another excellent trading update from this makeup supplier, enjoying very strong organic growth (+45%) and good margins." A gap up and lots of volume today, and I do think that if the broader market wasn't so weak, this stock would already have broken out into clean air. Relative strength is very strong. ![[warpaint-breakout.png]] It's looking like a classic Weinstein, or Darvas-esque stage 2 base setup (see [[strong shares break out of bases on high volume]]. Of course it's on a premium valuation now, and the volatility in the share is rising as it continues its uptrend. ![[w7z-2023-06-15.png]] It's a tricky market at the moment. What these shares need is a bull market to put a rocket under them. That's not in evidence right now, aside from the S&P500 in the US (but breadth is super weak). I've seen shares that I'd normally expect to burst to new highs fail to do so on regular occasions. Nonetheless Quality small caps are being gradually rewarded - the [[2023-06-14 - SMXX is trying to break above its moving average|SMXX]] is uptrending and so are the higher ranked deciles of StockRanks. The US market has gone a bit mad - and any reversal there might be felt more broadly but we shall see. > The lure of the distant and the difficult is deceptive. The great opportunity is where you are. > — <cite>John Burroughs</cite> --- This is the [[Journals]] for 2023-06-15. #W7L