Stage 1 base forming for Ocado, almost perfect rectangle, with multiple touches at 370 support.
Is this a chance to go long, or will it break to the downside? wait and see.
Do your own research (DYOR) and this is not a solicitation to make as trade.
Ocado Group has been a terrible stock to hold as any long term investor knows only too well.
Price is currently £3.50, back to the level last seen June 2023. As can be seen on the chart the price rallied strongly from this point.
The 4hr candle chart has just posted a bullish engulfing pattern, it must be noted the ftse is currently up 60 points and change....
A head and shoulder reversal pattern is forming on Ocado. Started in August 2022, this is likely to complete this December, but not guaranteed. The left shoulder is forming as expected. But will it bottom at about 380p and then rise?
OCDO forming inverse head and shoulder pattern.
Trade idea given according to projections from head formation and tp1 and tp2 set according to left shoulder
OCDO forming inverse head and shoulder pattern.
Trade idea given according to projections from head formation and tp1 and tp2 set according to left shoulder
To understand the potential of Ocado one must read Jeff Booth's book "The Price of Tomorrow: Why Deflation is the Key to an Abundant Future,". Ocado's innovative use of automation and robotics in their grocery fulfilment is a real-world example of the technological advancements that Jeff Booth discusses in his book.
Here's my assessment of OCADO. I believe the market has hit a bottom and is poised to begin the second upward wave. I welcome any feedback as I'm relatively new to applying Elliott Wave Principles. OCADO has the potential to streamline various manual stuff involved in food distribution, may be contributing to deflation in this sector.
Better potential than anything stateside imo for an industry 4 retailer
Upside huge
We must be wary of a retest of the last low circa 500
Looks to be freeing itself of the downtrend
Bull div
Not broken out I’ll look to add on a pulllback from a breakout
GRI 2023
Pretty sure bottom is in here
We have this IHS plus some nice geometry and tricky pa
Where AMZN nailed cloud these guis are doing Industry 4 sheet: ai/robotics/M2M/ML/IoT
Send it
Sorry muricans your Western tech hegemony is ova
GRI 2023
Like many other Businesses that were positively impacted by the Pandemic OCADO was clearly one of them .
This UK Stock is a must have in any portfolio, what the Internet done to Blockbuster is what
Ocado will do to the Supermarket eventually.
March 2020 OCADO begins to break out and establish a Bullish Trend and prints fresh ATHs during Sept,
followed by ...
Ocado Group LSE
Ascending triangle forming on the 50% fibonacci support from March 2020 lows of 990 to highs of 2900s. Directors dealings into correction could also add to probability of a move upwards. Stop losses or short orders under the 50% fibonacci support?
Hey all,
After a steep pullback, Ocado is sporting what could be a bear flag on all time frames.
I chose to illustrate the weekly in order to show my downside target, which is a reversion to the long-term uptrend.
This stock enjoyed a very strong rally to the upside with Stay-at-home tailwinds in early 2020, but RSI has been in a downtrend pretty much since May...
📚Ocado stock price has been very volatile over the past 12 months. Currently, ocado is being squeezed by a triangle pattern. If price can break out to the upside and close above 2135, which is a strong area of resistance, Ocado stock could move higher.
📚Ocado is forming a ascending triangle on the 4H chart, after a long downtrend. This is often a reversal pattern. Price is also sitting a key support turned resistance zone. Should price break this triangle pattern and this resistance zone, Ocado price could move higher 15%.
Sometimes, I like to analyse charts in this pictorial view to give myself a different perspective and also to spend some time "curating my charts" with different colours and description. In a way, it is tantamount to drawing to me , haha.
So here, we see some historical patterns where the price actions find some support, hoovering within the rectangle for a while...
I am really happy to see that what was looking like a Bearish Head & Shoulders pattern has been rejected on OCDO's longterm upwards trendline.
The setup has drastically improved as we can now see an Ascending Triangle breakout set-up that will likely see this stock in for a slow, low volume grind back up to ATHs.
20- and 50-day moving averages have also improved...
