Since hitting 2000.00 the share price has retraced 41% and since have consolidated around the 2800 area. The average estimates from brokers are still at a hold - buy rating. The RSI is showing a bullish failure swing with the indicator making lows and the price making a higher low.
On the weekly chart price action has been bearish with a shooting star candle...
Price is in a firm up trend despite retracing recently and in recent Kantar surveys showed the Co.'s market share decline 3.2% but stand at a respectable 10.4% with Tesco still in the lead at 28.2%. However, recent news for the Co. has been positive with the tie up with Amazon and their last set of earnings showing an increase in revenues.
R3 230.14
R2 Intraday...
Price is in a firm up trend despite retracing recently and in recent Kantar surveys showed the Co.'s market share decline 3.2% but stand at a respectable 10.4% with Tesco still in the lead at 28.2%. However, recent news for the Co. has been positive with the tie up with Amazon and their last set of earnings showing an increase in revenues.
R3 230.14
R2 Intraday...
FOR THOSE WHO DO NOT KNOW SANTANDER S.A. IS ONE OF THE MOST IMPORTANT BANKS IN SPAIN. THE STOCK VALUE HAS BEEN DECREASING SINCE MAY 2015 WHEN THE PRICE WAS WORTH 6.80 € A SHARE. NOW SANTADER IS 3.87 € A SHARE AFTER 1 YEAR AND 3 MONTHS APROX.
THIS FALL HAS STOPPED NOW. FIRST SIGN OF CHANGE OF DIRECTION WAS THE TRIPLE GROUND SUPPORT LEVEL BELOW. THE MARKET CHANGED...
Rio Tinto weekly chart shows inverse head and shoulder breakout, although subsequent rise has been capped repeatedly around 2550 levels.
On the daily chart, both the RSI and money flow index suggest increasing bearish pressure on prices.
Hence, we could a minor drop to 2390-2350 area.
However, overall view stays bullish unless the weekly close is below...
$REN I will be looking to short depending on Price action at the open. The stock is a previous runner where it managed to almost get to 9.00. However, following four days of solid volume with massive gains, the chart looks over extended and had fading volume.
I will look to enter on the open or possibly into the late afternoon to hold over the weekend depending...
$CDTI rose sharply following a Gap Up over the previous few days due to good fundamentals and a contract win with Honda.
However, the chart was over extended and volume started fading into the close on the 12th of July so I shorted on the first red day with one of my brokers who had shares to short.
I anticipate that this will follow through to 0.50 (and...
Standard Chartered shares are flirting with inverse head and shoulder neckline and appear poised to close the day higher.
That would be confirm a bullish break and present a technical target of 831. However, as of now, that appears a big task given the banking concerns in Europe. Nevertheless, a bullish break on day end closing basis would open doors for...
