Tesco - Correction towards the Downside
Short term sell at the resist trend towards the downside within the consolidation circle,
if price break above the resist zone, price return back to uptrend again.
TESCO PLC BUY
TARGET 175
The Major trend of TESCO PLC is showing strength for buying If it breaks the resistance level then one can initiate buying position in the stock.
Resistance level of 171 Target of 175 with the stop loss of 168
CHART FORMATION:-
Stock is trading in a range and trading near the trend line. Breaking the support line will lead to...
The Major trend of TESCO PLC it is showing strength for selling
If it breaks the support level then one can initiate selling position in the stock.
Support level of 159.50 Target of 156 with the stop loss of 163
CHART FORMATION:-
Stock is trading in a range and trading near the trend line. Breaking the support line will lead to downside movement. Stock is...
BUY
TARGET 217.30
The trendline of TESCO PLC is showing strength for buying.
If it breaks the resistance level of 214.25 then it can test resistance level for the target of 217.30
Skype tayal.smith1
The market consolidated here because there was "equilibrium" between sellers and buyers.
When the buy orders were all filled in, prices fell strong from then on and never recovered.
A sell in this area may see prices fall to what would be previous supply turned demand @218.50.
EP: ~268.50
SL: ~272.00
TP: ~218.50
The gap up in price at 182.00p suggested a lot more willing buyers than sellers.
Chances are, the next time prices drop back here, I expect a move back up the the 215.00p price area (depending on any new supply zones that form).
EP: ~182.00
SL: ~177.00
TP: ~215.00 (>6.5:1 return)
This supply zone formed when prices fell sharply away from the 215.65p area, suggesting that there could be a potential resell at this point.
With no new demand, a short sell to the previous demand, mid-way between the opposing supply and demand zones, gives you around 5.5:1 return.
Because supply is in control, the trade might go even further to the 182.00p area...
Tesco failed to dip to 196 support and missed the entry by 6 points, reversing at 202.
Divergence to RSI continues to build up as price and the oscillator makes a higher low. There is a descending wedge pattern formed with yesterday's price action breaking out. Buying on retest or any dips as long as 202.8 is not hit makes for a safe long position with stops now...
BUY
TARGET 215
The Major trend of TESCO PLC it is showing strength for buying. If it breaks the resistance level then one can initiate the buying position in the stock.
Resistance level of 212
Skype tayal.smith1
Newer to Stocks but want to share my ideas. Looking at a Buy position here on TSCO Targeting 261 per share and potentially seeing 269 per share long term
