ASSOCIATED BRITISH FOOD - ABF - LSE - BUY?Seems like a good opportunity to buy? Price bouncing off 50 period moving average, the stock seems to be in good upward momentum, possible target previous highs?
AFO1 trade ideas
Associated British Foods. Critical level. ABF, British multinational food processing and retail company, a real powerhouse when it comes to house hold products.
Ovaltine, silver spoon, blue dragon, Kingsmill bread, Patak's curry, Twinings, Allinson and of course Primark - leading fast fashion brand with 384 stores across 13 countries.
Trading at an historically attractive PE ratio of 17 and during a recession ABF will not be impacted as much as other companies.
Taking the weekly TF into account price is sitting below the long term parallel channel however we have bullish divergence on the RSI and MFI.
Looks to have formed a bullish wedge. With a double bottom.
Currently flirting with the 10 SMA on weekly TF @ 1737.
Top of wedge lines up nice with the 200 MA, will be the area to see and flip short.
ABF LongMonthly, weekly pattern found
Weekly, Daily trend looking to go high as the trend line drawn
Great long opportunity
Bear Flag: PRIMARK Share Price Could Slip -18%The holding company for Primark which is known as "Associated British Foods" chart currently shows a classic bear flag formation, with a perfect straight top which is acting as a strong resistance, and an upwards trending bottom support line which mainly seems to be driven by traders looking for small profits within this trading range. There is no real drive to the upside since investors are all taking profits.
If the share price does go to the downside when it breaks out of this triangle pattern, then there is little support for the price on the way down, giving investors a possible opportunity to short sell Primark shares.
This is not investment advice. I am not a qualified investor. This is just my personal opinion and trading analysis which I share for your possible benefit. Always set stop losses to protect yourself from unacceptable risk, and never invest more than you can afford to lose.
ABF Volume Profile AnalysisIf we stay above 2231 (the week has ended there), we will go to 2401. And if we will overcome 2401 we will go up to 3018 (about 25%)
But we need take into account, that we can have false breakdown. Though this stocks loves some levels and it trades nicely according to them
ABF - Associated British Foods - Good R/R Trade Potential - BuyDaily chart analysis - Just sitting above major trend line support and trading within a falling wedge structure. Indicators show a rising RSI with MACD diverging to price. Favourable R/R trade with 1st target price 2490
abf - At support level - time to buyLooks like its time for abf to justify its relatively high current earnings rating.
Associated British Foods ~ Long Swing TradeRecently oversold with signs of new uptrend.
Hold till overbought RSI/resistance level/signs of bearish reversal
Place stop loss at 2800
Risk/reward ratio: 7
ABF - Buy With Divergence 4hr & 1hrWe have divergence to price on the 4hr & 1hr chart with MACD & RSI. Potential for a good risk reward trade here
ABF – Monthly 50-MA support could be put to testDespite the rebound of monthly 50-MA support in July and a positive August candle, the subsequent failure to hold above monthly 5-MA this month coupled with a drop below monthly 10-MA amid bearish indicators suggests the stock is likely to re-test monthly 50-MA support seen today at 2615 levels.
Shares gaped lower today and extended losses on reports the company has plunged into pension deficit. The detailed fundamental outlook on ABF was discussed by Tim Harrison, Head of Wealth Management at Linear Investment here - www.youtube.com
