FTSE 100 still trading within a parallel channel and did not breakdown as expected. Whilst we did not breakdown, we saw some very low volume and a sidewards move with a small loss on the week.
Next week is a big week and depends on the covid & brexit news.
We would see a good bullish week should be be able to break above the .5 fib level around 6300.
IAG breakout from a bearish descending wedge.
Position taken yesterday in this at 215, however, still plenty of room to run up in the next week or two with the potential news surrounding air bridges being scrapped.
A break below 215 would invalidate the bullish view.
FB has taken a huge hit in the past 72 hours with corporates pulling out of advertising deals with the platform. FANG will fall this week and FB could see a huge reversal.
I expect a bounce around 203.72, however, this could quite easily trace back down to fib retracement level around 191.
S&P 500 to fall this week, without another miracle from the Fed's money machine. With cases sweeping the US and further cases in SK & Aus combined with last weeks low trading volumes, I expect a breakdown and quickly.
First support is around 2962, however, i expect this to breakdown further and bounce around 2790.
ASOS has clearly done well during the first half of 2020 driven by the increase in consumer online purchases. With these trends set to continue, ASOS is in a prime position to take advantage of online spending coming into the summer months.
With first Q earnings towards the end of July, I expect a steady rise in the price to around 4086 over the next month....
FAANG+ seems to have found a new range around all time highs which it could now trade in for some time. Should the news worsen re a second wave then i expect all markets to drop and FAANG+ to follow suit. However, if the news remains balanced, FAANG+ should trade within its new range for some time now.
Further posts below.
Capita as a business has some questionable fundamentals, however, these are mostly due to their restructuring debts.
They have recently taken on a contract with Google & Microsoft and with their restructuring plans now coming to the fore, they are primed to push higher being undervalued at present.
Capita has already broken resistance which sat around .43 and...
Victoria Plc is an interesting watch. Slowly bubbling away under the radar on the FTSE AIM, half year results showed a year on year jump of 16% in revenue, even though they had a lower profit due to interest on acquisitions.
They are slowly pushing up and with their full year statement in July, they may be pushing for a nice gain in the coming weeks.
AB Dynamics looks ready to push up as it comes into the final leg of it's ascending triangle.
A break of 1850-1855 and a confirmed re-test of support would then give the stock a nice bounce up to around a 11-13% profit, providing the markets don't pull back too much in general over the next two weeks.
This looks a good set up providing AB Dynamics can break...
Kraft Heinz has been trading within a low range for over a year and seems to have found a bottom. Trading volumes are increasing and with a more forward thinking approach they may be a good investment for the future.
I would like to see a strong push over the coming days/weeks, but a break above $33.54 would give me confidence that Kraft Heinz can make a push...
It's not a question of if, but when. The Nasdaq is ludicrously trading at it's all time high, somehow, when most of the world still doesn't have shops or restaurants open, the current market has been propped up by the Fed and it can't last forever. FAANG+ is well overpriced and considering they are main components of the NASDAQ, they'll be the first to fall....
The FTSE 100 is trading nicely within a range at present. We are now at the top of the channel so we will have to either breakout of the range and push upwards, or continue within this range which means we'll see a drop off in the coming days.
The FTSE is trading sensibly with a steady rise and pullback trend, unlike most of the other indices.
Previously Sports Direct, Frasers Group is performing nicely and looks ready for a breach of it's resistance at 329. With stores opening in July and online demand performing well, Frasers Group look sure to reap the rewards of more stay at home workers looking for exercise clothing and equipment.
Should we pass resistance around 329, I expect a strong push up in...
I have been skeptical about airline, travel & cruise stocks for the past months, however, Boeing has found strong support following the reopening of economies globally and is approaching an important weekly & daily resistance zone at around $186.
Should Boeing push through this and hold above, we could look to progress upwards to around $243 which is the next...