Review: Price is at the 50 simple moving average, using it as resistance Conclusion: Patience needed until the break and close above the 50SMA, then a break above the 6th June 2017 high Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Unite Group has moved up 22 points since the last post here. A strong move is expected considering that price broke out of a long period of consolidation. Do bear in mind that the £10.00 psychological round number resistance is not too far above which may slow price down. Last week ended with a strong bullish bar and if the momentum continues then the £10.00...
Evraz PLC advances higher yet again, using the 50 daily simple moving average as a ladder. Price has not gone down to test the 200 daily simple moving average which is a good sign of a strong uptrend. It is common for price to use the 50SMA as support in a good uptrend which is what is occurring here. Since the last break of resistance we are seeing more...
Yesterday we posted about Evraz PLC here, and today moved up over 10 points since then. Now that price is over the previous all-time high it could produce plenty of profits.
Evraz PLC is now sitting comfortably above the previous all-time high and still looking strong. On the daily chart we want to see price retest the all-time high and use it as support, followed by a breakout which will confirm a continuation of the bull trend. In May/June 2017 price used the Weekly 50 simple moving average as support. Then in November 2017 and...
Sopheon PLC has progressed since our last post here where price was at £8.42, and now stands at £9.12 at the time of writing this post. We have highlighted the area of consolidation which was from March 2017 to January 2018. The longer the period of consolidation, the bigger the trend may be that follows a breakout. As this period of consolidation lasted almost...
Although price was previously in a downtrend Genel Energy is showing signs of heading in an uptrend now. On the Daily chart price is already above the 50 & 200 simple moving averages which gives it a bullish bias. Right now price appears to be fast approaching the Weekly 200 simple moving averages which may act as a strong resistance level. This stock is not...
Burford Capital is still below the all-time high resistance which we highlighted in our previous post here, but it is still showing signs of potentially breaking out soon. Since price hit the support level in March this year, it has gradually been pulling itself up. If price does not break out soon then we may see it go into a period of consolidation. How long...
Elecosoft PLC created an all-time high in October 2007 at a price of £1.14, then made a low of £0.06p in December 2011 which is a big drop. At the moment price looks strong as it heads up making higher highs and higher lows. Although it looks strong now, the uptrend could find some difficulty advancing any higher at the resistance zone consisting of the £1.00...
Unite Group has been in an uptrend since the end of 2011, experiencing a long period of consolidation from August 2015 to October 2017. During the period of consolidation it would have been best to stand aside until a breakout happened. Consolidations are very difficult to trade and your capital is best used on stocks that are actually trending. Patience here...
Applegreen PLC is a fairly new stock, which floated on the London Stock Exchange in June 2015 at a price of £2.96 and has risen consistently ever since to the current price of around £5.72 (at the time of writing this post). The Weekly 50 simple moving average played a part in supporting price as it continued to rise. There was a nice trend from April 2017 to...
Segro PLC is developing into a nice trend using the 50 simple moving average to help it climb to higher highs. On the Monthly chart (not shown) price made an all-time high of £77.24 in 2007. After that we saw price plummet to a low of £1.50 in 2009. Ever since then, price has been clawing its way back up and appears to be finding some steam and making higher...
Computacenter has formed a nice trend which has been consistently heading up since 2008. Prior to that price was in a downtrend from 2000 where it made an all-time high at £15.66. This all-time high area may cause problems which may see it cause problems for price to advance higher. But if the trend is strong enough it should eventually break through. Price is...
Alliance Pharma has a consistent pattern of consolidation followed by breakouts to the upside. The pattern can always change going forward but it is always useful to identify the recent behaviour of a stock. The reason being, if you were to enter a trade in this stock and price just went sideways, it may become tempting to exit the trade early. But by...
In my previous post for Bovis Homes Group which you can find here, price had formed an inverted head and shoulders pattern. Price then continued to move in the direction of the uptrend but as is expected, price is now forming a pullback. When price breaks through an area of strong resistance, most of the time price will pull back to retest the previous...
Sopheon is a good example of a nice moving stock. After it broke through consolidation which lasted the for the majority of 2017, it smashed through the resistance level and has not looked back. The Weekly 50 simple moving average played a part in pushing price up as it was used as support along the way. After the consolidation breakout, price has had an...
Big Yellow Group smashed through the resistance level but may now encounter trouble at the £10.00 psychological round number if it is to advance higher. As you can see on the monthly chart, price is looking strong so far this month as it has produced a large bullish bar which saw it break through resistance. Last month's bar poked its head above the resistance...
NMC Health is at support after breaking out when we posted about it here. We mentioned that there is the $40 round number above which may cause resistance, but price has decided to pull back which is normal after breaking out of consolidation. The resistance level of the consolidation zone has now become support and we have to wait and see which direction...