First it was the bullish price RSI divergence and now we have a confirmation of the breach of the falling trend line on the weekly chart. The weekly 50-MA is bottoming out as well. The stock appears on track to test 70.00 levels. Bullish invalidation is seen only if the stock closes on Friday below the weekly 50-MA level of 61.53.
if 66.21 breaks near term target towards 70.925 will occur. However, if support term 64.55 is breached below, then near term targets of 62.8 and then potentially 61.8 will occur I don't buy the rise! Ftse Is extremely overvalued IMO on current forecast increases on no valid thesis'.
Rally is going to start tomorrow. Loyds is dropping from 76.70 to 75.00. What do you think? Happy trading