I think this is a pivotal moment in the SP. We have been in this uptrend since 2015, but now we are looking at a recession for the first time in over a decade. We have to see where price action shows support and be cautious!
Tesco - Short Term - We look to Buy at 284.00 (stop at 275.00)
Preferred trade is to buy on dips. 50 1day EMA is at 282.00. The bias is still for higher levels and we look for any dips to be limited. Daily signals are bullish. Dip buying offers good risk/reward.
Our profit targets will be 308.00 and 320.00
Resistance: 300.00 / 310.00 / 320.00
Support: ...
$TSCO at a layer of support currently and looking likely to pull back to the zone near p226 where the fast and slow-moving averages, as well as the bottom of the cloud, are located. Then price is looking to continue a downtrend as shown by the bearish Ichimoku cloud (daily timeframe). Potential short setup @p226. Thoughts on this analysis?
Another one on my radar is Tesco and i am bearish. However i want price to test my blue zone around 226 and if the rejection has good volume il short it to finish off the HnS. Measured move target 200 zone.
02 October 2020
Tesco PLC. Price Could be Approaching
Potential Weekly Area of Demand.
One to Watch, For Long Bias.
Tesco PLC, is a British
Multinational groceries
and general merchandise retailer.
LSE:TSCO
This British supermarket (consumer staple) stock is touching the 50% fib line at the same time as a neat upward tramline. It has consistently reacted to these technical indicators in the past, and of course fundamentally, is doing well out of the current crisis. It has of course already rebounded, but if it dips again, a good buy at 208, SL 198, TP 266 RR 7.
This Analysis show that there is a gap between TESCO or Morrisons and M&S os Sainsbury it means that:
M&S os Sainsbury should be a long position and TESCO or Morrisons should be a short position to close the gap.
Further analysis would be required on each Market to define the investment
Weekly chart shows a rising channel. While city lockdowns forced some frenzied panic, if the markets continue to sell on the virus spreading, this channel can break to the downside. If so, target the lows.
Good Luck and Stay Healthy!
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS.
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS.
