justatrader

Tesco PLC - Missed entry by 6 points, but looking to buy on dips

LSE_EOD:TSCO   TESCO PLC ORD 5P
74 0 2
Tesco failed to dip to 196 support and missed the entry by 6 points, reversing at 202.
Divergence to RSI continues to build up as price and the oscillator makes a higher low. There is a descending wedge pattern formed with yesterday's price action breaking out. Buying on retest or any dips as long as 202.8 is not hit makes for a safe long position with stops now coming in at 196.

If the wedge break out hits 202 and then falls, then apply caution as a decline to 196 might be possible (which brings the previous scenario back into play). Arrows on the chart shows the ideal price action movement to be considered for longs.

Targets remain the same at 243 and 294.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out