Life healthcare is challenging a 6 year old bear channel on the news of the possible FDA approval of Biogen's Alzheimer's drug. Could be a significant for LCH's NeuraCeq Alzheimer tracer used for diagnosis. Share up strongly and very volatile today. I would wait for a break of the bear channel before entering the share. Anything before that would be pure speculation.
Huge channel break by the FTSE today. 7000 looks like a possible target for this break.
Rubbing the crystal ball here a bit, but big breaks like the ones we've seen on the ALSI usually gets tested at some point in time to confirm the bullish sentiment. Last week was a 10% week for ALSI + an additional 1% today. Expecting some consolidation in the near future. Market is very bullish at the moment.
Nice 8000 level break and retest. 9500 and 10000 looks likely from here. Break below 7800 for a stop loss.
Watch for a channel break of around 4550 for two possible targets to open up - 5070 & 5470. Banking sector has been in a consolidation channel since March. Wait for the break.
Are we headed for the top of the channel once again ? Be prepared for some volatility during the US presidential election period.
Possible bull flag forming within a consolidation channel 1800-2100. A break of this flag pattern to the upside would target 2000 and 2100 levels again for a challenge of the top of the channel resistance level again.
A break of 5190 level will open 5500 and 5800 targets. Keep an eye on this one. Wait for the break.
Top of channel coming up once again. Watch out for some overhead resistance.
If history is anything to go by, then more downside to come. Be careful with new positions.
Bottom of channel reached. Should at as a bit of support for an expected bounce.
The question now is if support will hold. If it does, we should see a little bounce from here.
ZAR 16.30 channel support was broken. If that support of 16.30 (now resistance) hold then more $ weakness coming.
Coca-Cola published better than expected results. CCEP touched the bottom of what looked like a defined channel with a bounce yesterday. Could the top of this channel become a target now ?
For those with a longer term view. Long.
Breaking through the 50 day moving average in what looks like a bear flag break. More potential downside on this one. Target is on the chart. Bulls need to reclaim that moving average to recover from this downward momentum.
Clear down channel. Bottom of channel seems like the likely next target.
Plantronics was upgraded by JPM to a target price of $25. They could have benefitted from the COVID lockdown periods and work from home arrangements. Good quality equipment. I like this chart and think it could possibly go to $31 if the $25 target is met. Buy on weakness after a very strong move in recent days. Earnings Do your own homework. This is not trading advice.