You may have learnt that a triangle pattern in an uptrend is bullish? Here's a good example of wait and see, where the price has broken to the downside. Looks bearish to me.
The technical figure Triangle can be found in the daily chart in the UK company Diageo plc (DGE.l). Diageo plc is a British multinational alcoholic beverage company. It is a major distributor of Scotch whisky and other spirits. Distilleries owned by Diageo, produce 40% of all Scotch whisky with over 24 brands, such as Johnnie Walker, J&B and Vat 69. Its leading...
Bullish indicator
1- Falling Wedge formed need to check if it
breakout the trend line then trend will be bullish.
Bearish Indicator.
1- if it breaks the 3426 support it will be in bearish trend
Diageo has said it is starting the final phase of its share buyback, where it will hoover up to £640mln worth of its stock, last month the FTSE 100-listed alcoholic drinks group said it intends to raise its stake in East African Breweries to 65% from 50.03% but did not intend to make a takeover offer.
- Trading at 11.6 below fair value
- Earnings are forecast...
Goals 190, 186. Invalidation at 239
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the...
In my opinion, this stock is at an interesting juncture. Is about to begin a C wave decline to complete a flat correction or was the bottom in March 2020 already the completion of a wave 4? I'm leaning towards a decent correction as it is difficult (for me anyway) to count the upward move from 2020 in 5 waves. As always, time will tell but it might provide a...
Diageo Plc. is now making an ABC corrective structure. Now we are at wave C which is the last leg of the ABC structure and the wave C which is an impulsive wave will end with a smaller degree wave (5). I will keep updating this chart if necessary. Comment, like follow for more accurate ideas. Thank you.
H&S Pattern
Currently trading at around 20 P/E, at around 18 (2400p) or 15 (2000p) would be a very good opportunity
Dividend yield of around 2.7% provides a very stable opportunity considering how safe and well run this business is
Scenario 1 - Follow the flag pattern, resort to trendline @ 2400 levels + potentially venture lower? (In which case the lower we go...
In the past few months with the rise of Corona virus Diageos stock price has really taken a hit with profit losses for the leading spirit making company. Asia is in lockdown due to the virus and othewr consumers around the world are also suffering causing Diageo to take a real bad hit. However this stock is classed as defensive due the fact of even in hard times...
An ascending wedge pattern has emerged on the daily DGE chart, there's a clear line of support from the past months in this stock which has recently been met which will result in the price going higher as this stock bounces off support as seen in the previous months. Once it continues to rise it will be facing the resistance level for a third time at 2873.0, I'm...
