FTSE has bounced smartly from above the 6676.56 monthly low of 4 November, with prices now pressuring the 6956.70 retracement.
Extension to congestion around 7000 is highlighted from rising momentum studies, but any further gains are expected to prove difficult to maintain, as the Tension Indicator, (not shown), continues to weaken and investors maintain a...
Tomorrow brings the earnings of UK home builder Persimmon.
UK home builders have performed well in recent times with the UK government backing the housing market with expansion plans. In terms of recent broker recommendations UBS, Credit Suisse and Canaccord have all upgraded to company within the last 4 months.
* The weekly chart is showing bullish hammer...
Based on RSI34 weekly div and final trend line breakout look forward for further downside price action to 80-100 levels.
No more soap, baby! - Sell Johnson & Johnson mid-term setup
Apart from the commentary in the chart, if this pans out, this would also likely mean a global risk on rally. So we may look forward to strong and sustainable rallies in equities across markets. Yields may go higher for US treasuries. This ties up well with the steady Fed rate hike scenario as well.
Our long term bias in UK100 remains positive and this week has got off to a good start with a very solid move higher.
Last week we noted a morning star formation to target a move higher and this has played out nicely.
With BOE hinting at further rate cuts and the continued quantitive easing strategy supporting the long side, further upside is expected.
We look to...
Onesavings has jumped more than 10% to 271p as the group, which offers residential mortgages and buy-to-let loans reported a 36% increase in the first half profits to GBP 64.6 million.
On the daily chart –
Prices are attempting a break above critical resistance of 271.65 (May 11 low).
The odds of a failure to break higher/hold above 271.65 are high given the...
