BRSN:LSE appears to be funneling down to a decision point soon. My preference is that the move down will continue to the 800 level before a bounce. the RSI in the weekly chart shows the potential for forming a double bottom which should move momentum back to the upside but this has not finished forming at present.
Expect a decent move at the confluence here. My natural bias at the moment would be for a break to the downside, but emotionally i would say that, as I am currently net short the wider markets.
Use a tight stop though as there could be a bounce at this confluence too.
It's difficult to say in what direction this multidiagonal pattern ought to break out in, due to the flatter price action (at a guess I would TENTATIVELY say upwards, but be prepared with a hedge or stop).
Around this upper trend line GKN looks like a short back to as low as the lower trend line. Be aware that the lack of a retest of the lowest trend line on its previous drop suggest that it could be worth taking money off earlier here rather than later.
I like how this is timing well for a short with the FTSE 100 and other indices, which appear to be due a...
Expect a strong pull back here or just above in Elementis PLC, the smaller confluence of multidiagonal lines suggests that for the time being the stock is topping out and this view would be corroborated by similar patterns on the wider global indices.
A potential long trade appears to be setting up on Britvic, with a confluence of multidiagonals in mid April.
A drop below the lowest diagonal would make me re consider the trade, but until late March/early April this is one to watch.
