Ocado has been experiencing a strong pullback on the negative patent litigation news, with what seems like a classic bearish head and shoulders pattern. The question here is whether the reversal has run out of steam as we try to break out of the multi month downtrend. Bullish scenario: further lockdowns and festive season online spending act as tailwinds to...
As 200 SMA is untested since March, the chart is set up nicely to retest ST.
Taking a long position on Ocado. British online grocery store Ocado $OCDO.L (Ocado Group PLC) announced a new partnership with Japan’s biggest supermarket chain, Aeon.
Ocado has gapped up - giving opportunity for 5% gains by short selling this gap fill.
Ocado looks to have produced a strong head & shoulders and we could see a drop down to around 1775.
Ocado broke out earlier this week from it's ascending channel formation. We had been trading this position over the past week or so and closed our position on Thursday before close of markets with a 16% profit. Will be looking for re-entry around £17.60.
1 year rectangle and now a breakout. 1795 expected. This not a recommendation to trade.
Technical Ocado has had a dramatic rise in price over the past 18 months. The breakout level at 1163p has been retested and has so far been well supported. The shares have been in a consolidation phase for the past few weeks, but some signs are emerging that could put an end to the sideways price action. A move back to and above the previous highs is expected...
Remeber when the gurus said OCADO was too expensive back then. Guess what they are saing now. Fundamentals for the win.
Ocado Group plc operates as an online grocery retailer in the United Kingdom.
Seems like $OCDO is reaccumulating. Cup&handle forming inside a flat top triangle. Waiting for confirmation
We must wait till next monday to discover if it can brake it out
Last post: June 15th. See chart . Review: Price was pulling back after being in a nice uptrend. Update: Price is stuck inside the consolidation zone and currently at the support area. Conclusion: We need to see a breakout of this consolidation zone before looking at any trading opportunities. Any comments or questions, do not hesitate to leave them below....
Last post: June 11th. See chart . Review: Price was trending up fast after breaking out of consolidation. Update: Price is producing a pullback. There is a strong support level underneath which consists of the previous resistance turned support and the £10.00 round number. Conclusion: If the support level holds then it may present a pullback opportunity,...