We look to Sell at 7380
Trading has been mixed and volatile.
The trend of lower highs is located at 7382.
Positive overnight flows lead to an expectation of a firm open this morning.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
Stop: 7415
Target 1:7275
Target 2: 7200
Two points of view are provided in the chart as two scenarios are both likely.
Upside has a target of £10,000, Pivot level at £6,000 and downside target of £4,500.
The wedge, price stalling and curvature of the price action up to the wedge, tells that there is a possibility for a rejection from a recovering bull market and into a financial recession....
Eurasia Mining has spiked over 200% on almost 14x average volume. This is a huge move with a lot of momentum behind it. That being said, there is likely a lot of profit taking to come.
The market has strong potential resistance at 1980-2005. Will it be strong enough to trigger a reversal? Maybe. It is the confluence of two 1.618 Fibonacci projections. If the...
Technicals
Persimmon is holding at key support and showing signs of attracting value hunters. I also note the bullish divergence on the relative ratio (Persimmon share price / UKX). The price of sterling has been a drag on the shares and with GBP moving higher yesterday it could offer some relief to domestic stocks. Technically and fundamentally, Persimmon looks...
Jubilee Metals has corrected lower in recent weeks to retest the breakout level of 2.80p and slightly below this at the 61.8% Fibonacci support level. The large reversal today is an encouraging sign which the shares set to close above the 10EMA. It’s also been noted that trading volume has been consistently above 50k for the past 90 days. It looks an interesting...
Head, shoulders, knees and toes, knees and toes.
Head, shoulders, knees and toes, knees and toes.
And eyes and ears and mouth and mouth and nose.
Head, shoulders, knees and toes, knees and toes, knees and toes.
March, march, march.
Let us all march.
March, march, march.
Get your body charge!
Head, shoulders, knees and toes, knees and toes.
Head, shoulders, knees...
Last post: See link below.
Review: Price experienced a deep pullback and came down to find support at £20.
Update: Price is currently still holding at £20 which is proving to be a strong round number.
Conclusion: We want to see price gather some strength and climb away from the round number and eventually break above the previous high.
Any comments or...
Trade Idea
Prices are extending higher from the bullish flag/pennant formation.
We have a 61.8% Fibonacci pullback level of 7458 from 7020 to 7729.
Bespoke resistance is located at 7461.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Preferred trade is to sell into rallies.
Expect trading to remain...
Last post: See link below.
Review: Price was in a period of consolidation.
Update: Price is currently trading out of consolidation.
Conclusion: As long as price can remain out of the consolidation zone, we should see a continuation of the previous uptrend.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our...
Last post: See link below.
Review: Price was stuck in a large period of consolidation and was not presenting any trading opportunities.
Update: Price has now broken out of consolidation, which lasted over 2 years, and looks interesting again.
Conclusion: We want the current support level to hold followed by a break of the previous high before we look for any...
TVC:UKX
As old saying goes from false move comes fast moves.
Broke big range yesterday morning and back test it again today.
Chances are for drop back to bottom of the range.
Been watching this lately as it has been appearing in my scans. The trading volume appears to have been quite consistent in recent weeks and trend of higher lows is encouraging.
The close above the 10 EMA is a cue to buy and target the resistance above.
Target: 2.55p
Stop: 1.644p
Technical
Howden Joinery looks interesting on a technical basis. The shares shot higher to new highs following a bullish update to the market. We have since seen the share price unwind to some sensible levels as the overall market continues in this condolidaiton phase. The shares have reached a confluence of Fibonacci support levels, which I have highlighted on...
Technical
Ocado has had a dramatic rise in price over the past 18 months. The breakout level at 1163p has been retested and has so far been well supported. The shares have been in a consolidation phase for the past few weeks, but some signs are emerging that could put an end to the sideways price action. A move back to and above the previous highs is expected...
Last post: July 31st 2019. See chart .
Review: Price was trying to break through resistance.
Update: Price failed to break resistance and is now stuck in a period of consolidation.
Conclusion: We need to wait and see if price breaks through the consolidation support or resistance level.
Any comments or questions, do not hesitate to leave them below. Give...
Australia's primary equity index (ASX) is seen here through the S&P/ASX index (XJO). Here we can see that ASX is retesting its prior highs from 2007 before the great recession hit. Will be watching for a good-sized pullback soon given the vertical run that the ASX has been on this year. Will that have any impact on the U.S. or other major stock markets? Not sure,...
FTSE 100 has rejected 7600-7590 area in the 1hr time frame, 3 consecutive times suggesting that a correction is possible.
If FTSE100 breaks below 7550 (23% fib level) we can see a correction upto 60% Fib levels at 7440-7430 levels.
But FTSE needs to break below 7550 to trigger this trade.
Stops should be above the recent highs.
