Tesco (TSCO:LSE) looks to be approaching a confluence point around the start of February. RSI has been finding support around the 40 level or just below indicating that if price can manage a gentle glide towards this point there could be a move up off the confluence in Feb.
Up Trend Line broken by a green candle with a high volumn. the trend has been retested once and in the second test we expect price will jump high (approx. to 217 Pounds.)
Moreover, currently Pin Bars candles formed above the trend!
Strong negative RSI divergence and at top of parallel channel. Supported by SMA50, so it needs to break that first, and then properly fill the gap around 190p, which wasn't filled before. Short stop order around 205p TP 190p, perhaps then use SMA50 as stop.