So they had a death on the vaccine research and look to be forming a head and shoulder pattern which is typical of a reversal in price, how come the news always comes so in time? the markets are so fascinating.
Short sellers squeezed out?
Head and shoulders top forming?
I personally like speculating on what I think could be a right shoulder in a head and shoulders top pattern. Especially when the (potential) right shoulder squeezes into a 78.6% Fibonacci retracement level.
Selling FTSE between 5860-5877 if I can. Stops above the highs.
The measured move target is at 5110.
Buy Morgan Advanced Materials (MGAM.L)
Morgan Advanced Materials plc, formerly The Morgan Crucible Company plc, is a United Kingdom-based engineering company. The Company is engaged in advanced materials science and engineering of ceramics, carbon and composites. The Company's segments include North America, Europe and Asia/Rest of World.
Market Cap: £889.21...
Long opportunities continue to present themselves while this technical standpoint continues to play out. Sized in from the bottom and looking to sit on my hands to take profit at key levels on the chart. Trade with care.
Note: This idea follows my own tried and testing trading strategy and rules. This idea does not constitute trading guidance for anyone else.
Buy BT Group (BT.A.L)
BT Group plc is a communications services company. The Company is engaged in selling fixed-voice services, broadband, mobile and television products and services, as well as various communications services ranging from phone and broadband to managed networked information technology (IT) solutions and cyber security protection.
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...
Buy Bango (BGO.L)
Bango PLC (Bango) offers the Bango mobile payment platform. The Company's principal activity is the development, marketing and sale of technology to enable mobile phone users to make payments for digital content and media on smartphones and tablets. The Company's segments include End user activity and Platform fees. The End user activity segment...
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...
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.
IHG is trading in a strong long term uptrend. The shares have corrected lower in recent weeks but buying support has been found at the previous break out level, which is now support. The correction is also inline with a 38.2% Fibonacci support level adding further weight to the bullish argument. Further upside is expected over the short to medium term.
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...
BUY – GREGGS (GRG)
Greggs plc is a United Kingdom-based bakery food on-the-go retailer. The Company's products and services consist of a range of fresh bakery goods, sandwiches and drinks in its shop.
The success story of Greggs is quite remarkable with the shares rising significantly over a 5-year period. The baker recently delivered an...
BUY – BAE SYSTEMS (BA.)
BAE Systems plc is a defense, aerospace and security company. The Company operates through five segments. The Electronic Systems segment consists of the Company's United States and United Kingdom-based electronics activities.
The company boasts special relationships with both the US and Saudi Arabia. The company has...
BUY – AUTO TRADER (AUTO)
Auto Trader Group plc is a digital automotive marketplace. The Company is engaged in the business of buying and selling new and used vehicles. The Company also operates similar business in Ireland through its Website carzone.ie.
Auto Trader is forecast to post a rise in earnings of 12% in the current year. This follows...
BUY – VODAFONE (VOD)
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.
Vodafone’s share price has drifted sideways to lower for the past few years, but all of a sudden, the price has risen almost 25% in 3 months. This follows the...
Jubilee Metals has corrected lower in recent weeks to retest the breakout level of 2.80p and slightly below this at the 61.8% Fibonacci support level. The large reversal today is an encouraging sign which the shares set to close above the 10EMA. It’s also been noted that trading volume has been consistently above 50k for the past 90 days. It looks an interesting...
It has been a while since I posted one of my plans for the week ahead and I've missed the process, this week I would like to share my Compass Group (CPG) set up which I think is a great long. Compass posted strong half year earnings on the 15th of May which was well received by the market sending the stock up to an area that has played a role as resistance in the...