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EJT1 trade ideas

EasyJet – Fake breakout?Daily chart pattern Bullish symmetrical triangle breakout Overbought money flow index for the first time after March 2015 Stuck at 50-DMA level of 1125.24 The daily chart suggests the bullish break from symmetrical triangle could be short lived. The only fact that remains in favor of bulls is the daily RSI, which is well short of overbought territory. Overall, we are likely to see range bound action with a downside bias. Bullish move would gather pace after prices see a day end close above 1177 (July 14 high).
LSE:EZJ
by TipTVFinance
Easy Jet – attempting bullish break from symmetrical triangleEasy Jet shares are top performers in FTSE100 index. Shares are trading 2.13% higher on the day around 1100 levels. Prices have set a intraday high-low of 1127 and 1069 levels respectively. Daily chart pattern – Symmetrical Triangle A bullish day end close today would open doors for a rise to 1177 (July 14 high) and add credence to the view that a mid-term bottom is in place around 973 (July 26 low). Daily RSI and Money Flow Index are in favor of a bullish daily close. Bullish invalidation is seen only if prices see a day end close below 1044 (previous day’s low).
LSE:EZJ
by TipTVFinance
Easy Jet - Should we trust the rally?Easy Jet shares have finally witnessed a relief rally of sorts. Prices clocked a low of 973 on July 26 before jumping to a high of 1080 today. The question now is should we trust the corrective rally in the shares. Fundamentals do not support the rally in prices… travel stocks are anyways under pressure, furthermore strengthening of oil prices further is an addition to the bearish news. On the technical front, the news is not good either- The volumes have stayed below 20-day average through the current technical recovery. The money flow index also suggests the corrective rally is more due to profit taking/unwinding of shorts. Hence, the current rally may not be sustained. Moreover, gains have come after last Thursday’s BOE stimulus, which have triggered broad based gains. After the effect of stimulus wanes off the stock may resume the downtrend. On the higher side, we keep an eye on 1177 levels, while fresh sell-off is seen once the recent low of 973 is breached.
LSE:EZJ
by TipTVFinance