Last post: April 19th. See chart.
Review: Price was approaching the resistance level from the April 2015 high.
Update: Price is now above the resistance level.
Conclusion: If price can remain above the resistance level then we may see the start of another bull trend in this stock.
Any comments or questions, do not hesitate to leave them below. Give us the ...
Tesco is gaining more and more strength as it attempts to release itself from the consolidation zone.
In my previous post here, price had broken through a resistance level.
The next level we need price to break is the resistance level of the consolidation zone. Should price fail to break that level then
price may remain within the consolidation zone for a while ...
Tesco has broken the resistance level. The previous pattern consisted of lower highs and lower lows.
This may now change to higher highs and higher lows and if this is the case then we may see a bull trend form.
We would preferably like to see pullbacks that are not too deep and we want frequent breakouts in an uptrend which would
indicate to us that we are in a ...
Is this Tesco's breakout moment
after breaking out of a triangle pattern started in early 2015?
Good figure from Kantar today have helped the share price
but this is just a small part in the general "scheme of things".
Limitations: 218p resistance and 200EMA resistance. Once past that then it has room to run.
News this morning - Tesco H1 18 Earnings Results: Revenue: GBP28.3B (est GBP27.62) Dividend: 1p and UK LFL Sales Up 2.2%.
Two members of Tesco's financial team resigned in 2014 because they were concerned that their professional integrity was being compromised by what they were being asked to do by their bosses, a court heard on Yesterday.
Now we have cleared ...
supermarkets have something to worry about. Amazon who recently bought Wholefoods said they are set to drop prices at the organic supermarket and offer a delivery service like no other. Sticking with supermarkets Kantar Worldpanel showed the big four are going strong and Lidl stepped up to become the 7th largest grocer in the country. Tesco shares rose as it came ...
Tesco (TSCO:LSE) looks to be approaching a confluence point around the start of February. RSI has been finding support around the 40 level or just below indicating that if price can manage a gentle glide towards this point there could be a move up off the confluence in Feb.
Up Trend Line broken by a green candle with a high volumn. the trend has been retested once and in the second test we expect price will jump high (approx. to 217 Pounds.)
Moreover, currently Pin Bars candles formed above the trend!
Strong negative RSI divergence and at top of parallel channel. Supported by SMA50, so it needs to break that first, and then properly fill the gap around 190p, which wasn't filled before. Short stop order around 205p TP 190p, perhaps then use SMA50 as stop.