Vodafone ran into a solid confluence zone of resistance in Friday. It has since retraced over 5%. Today it fell over 2.3% and, crucially, it fell below the 1:1 trendline on the Fibonacci Fan shown. This is important because this trendline has acted as the greatest source of support throughout this uptrend. In addition, there has been a bearish divergence on the...
Buy Babcock (BAB.L)
Babcock International Group PLC is a holding company. The Company provides engineering services. Its segments include Marine and Technology, Defence and Security, Support Services and International. The Marine and Technology segment delivers support to the United Kingdom Royal Navy's submarines, naval ships and infrastructure. It also offers...
Buy IG Group (IGG.L)
IG Group Holdings plc is a United Kingdom-based company, which is engaged in online trading. The Company provides contracts for difference (CFDs) in over 17 countries globally. The Company's segments include UK, Australia, Europe and Rest of World. The UK segment consists of its operations in the United Kingdom and Ireland, and derives its...
Buy Reckitt Benckiser (RB.L)
Reckitt Benckiser Group plc is a manufacturer and marketer of health, hygiene, post-natal and home products. The Company's segments include ENA and DvM. The ENA segment consists of Europe, Russia/Commonwealth of Independent States (CIS), Israel, North America, Australia and New Zealand. The DvM segment consists of North Africa, Middle...
Buy Vodafone (VOD.L)
Vodafone Group Plc is a telecommunications company. The Company's business is organized into two geographic regions: Europe, and Africa, Middle East and Asia Pacific (AMAP). Its segments include Europe and AMAP. Its Europe segment includes geographic regions, such as Germany, Italy, the United Kingdom, Spain and Other Europe. The Other Europe...
Buy IAG (IAG.L)
International Consolidated Airlines Group, S.A. is an airline company that holds the interests in airline and ancillary operations. Its segments include British Airways, Iberia, Vueling, Aer Lingus and Other Group companies. It combines the airlines in the United Kingdom, Spain and Ireland. It has approximately 550 aircrafts to over 280...
Price is rejecting the top TL of the wedge pattern that's forming on the FTSE100 index.
FTSE being propped up by a weak pound and brexit. If some progress is made and GBP gains some strength again then FTSE should begin to drop.
Bearish bias on FTSE100 index.
Previous 4hr support zone broken and retested.
Bullish Trendline broken and now retested.
Fib 0,618 and lower high forming.
4hr 50ema to act as dynamic resistance.
Final TP around the 7100 level
For a more in-depth analysis, see:
RBS ran into an almighty price barrier on Friday. Today it reversed over 2%. Look at the significance of this resistance. 3 components are shown in the chart:
1) Fibonacci fan line
2) 100-day moving average
3) 2.618 extension of a price gap.
Trading has been mixed and volatile.
The sequence for trading is lower lows and highs.
We have a 50% Fibonacci pullback level of 7374 from 7729 to 7020.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7375, resulting in...
BUY – TESCO (TSCO)
Tesco PLC (Tesco) is a retail company. The Company is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services.
It’s been a tough few months for Tesco shareholders with the shares having slumped over 13% from the 2019 high. The business has embarked on a massive overhaul over...
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...
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 from...
FTSE100 is making some nice consolidation on the 1hr timeframe and is now breaking the lower TL.
I will wait for a clean break and then short on the retest and lower high. Targeting new lower lows at 7000
DAY TRADE - EXPIRES AT 9PM
We were looking for a dip to buy today but the market appears to have stalled in front of our entry level. Is this good enough reason to get long?
Overall we remain bullish.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Bespoke support is located at...