Tesco - Trade at the Price levels Sell when price reach the Red price labels Buy at the Green price labels
The market consolidated here because there was "equilibrium" between sellers and buyers. When the buy orders were all filled in, prices fell strong from then on and never recovered. A sell in this area may see prices fall to what would be previous supply turned demand @218.50. EP: ~268.50 SL: ~272.00 TP: ~218.50
The gap up in price at 182.00p suggested a lot more willing buyers than sellers. Chances are, the next time prices drop back here, I expect a move back up the the 215.00p price area (depending on any new supply zones that form). EP: ~182.00 SL: ~177.00 TP: ~215.00 (>6.5:1 return)
This supply zone formed when prices fell sharply away from the 215.65p area, suggesting that there could be a potential resell at this point. With no new demand, a short sell to the previous demand, mid-way between the opposing supply and demand zones, gives you around 5.5:1 return. Because supply is in control, the trade might go even further to the 182.00p area...
Newer to Stocks but want to share my ideas. Looking at a Buy position here on TSCO Targeting 261 per share and potentially seeing 269 per share long term
Great buying opportunity on TSCO PLC. A double bottom has occurred around the 160.00 area and it has since bounce upwards and broken through the 200.00 psychological resistance number. support of the fast moving average too. target 1 300.00 which is support turned resistance. will evaluate once it reaches target 1