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LLOYDS BANKING GROUP PLC ORD 10P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), POWERHOUSE ENERGY GROUP PLC ORD 0.5P, UK OIL & GAS PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, UNION JACK OIL PLC ORD 0.025P
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Centrica continues to trade in a long term down trend. The latest failure at overcoming trend resistance should set the shares up for another test of the recent lows.
We are sellers today targeting a move towards 188p, with a stop at 210p
Direct Line Group continues to trade within a medium term downtrend. In the last couple of sessions we have seen a rejection at the medium term trend resistance line and also the top of a range that has developed over the past few months.
This rejection is likely to trigger a move to the lower end of the channel at 332p.
332p is a huge support level that has ...
Royal Mail Group (RMG) has rallied into multiple resistance levels and appears to be rolling over to the downside.
The shares have formed a range pattern on the daily chart and are now trading at the upper end of this pattern.
With the medium term trend remaining firmly bearish, we look to use this as an opportunity to sell.
Our trade today is to sell ...
Admiral is looking pretty sick while the overall market hits new all time highs. The shares have failed at trend resistance and also the neckline resistance of the top pattern. The shares are making new lows on a relative basis and look set to continue lower in the near term. The shares will be particularly vulnerable should the FTSE100 undergo a correction. ...
We are on the hunt for short ideas as we expect to see some form of pullback in equities in the short term. Sage Group is in a long term downtrend and has underperformed the benchmark index over the past 1-3 months on a relative basis. The shares have rallied into downtrend resistance as well as a combination of the 50 & 200 day moving average. There was also a ...
We like GKN over the medium term and hoped to see the shares break to new highs. This is looking increasingly unlikely in the short term as the shares stall at resistance. The bearish divergence on the RSI and the relative ratio is a concern. If the shares close at this level or lower (329p) then we will also have a nasty looking bearish engulfing candle.
Maybe a ...
Legal & General is currently trading above major resistance. The break of this level suggests that the medium to long term outlook is positive from here. We will wait to see if this break can hold on the weekly chart before committing longer term. In the short term the momentum is strong and further gains could be seen. Gap resistance around 267p and the 78.6% ...
We are a fan of Johnson Matthey over the long term. The recent correction looks to be a great chance to buy the FTSE100 chemicals company. The shares have formed a channel on the weekly charts and also found support on a relative basis versus the index. There is big resistance at 3575p, which if overcome could open up the upside towards 4000p and beyond. The long ...
Pearson has rallied into resistance at the 200 day MA and the high seen in October. This has also been mirrored on the relative ratio. The stock appears to be rolling over here. We suggest selling with a stop at 860p, this is above the resistance and the 50% Fibonacci retracement level from the highs in June to the low in November. Target 715p
BP has rallied into resistance at around the 500p level. This is probably a call to take a bit of profit rather than initiate a speculative short. Medium to Long term we are a fan of the oil majors.
Marks has rallied into multiple levels of resistance on the daily chart. This is the top of the range where previous highs have stalled. It is also the 200 day moving average. There is divergence on both the relative ratio(vs UKX) and the RSI, which suggests the momentum is stalling. Sell with a stop at 364p, targeting a move towards the lower end of the range at 308p
Babcock has failed at the top end of a well-defined downtrend channel. The shares are under performing the benchmark on a relative basis across multiple time frames and making new lows.
Sell with a stop at 963.5p and target 851p
DCC has corrected sharply in recent weeks and now appears to be stabilizing in line with the dominant uptrend support line. The bullish divergence on the RSI is another reason to believe that a bounce could be seen in the short term.
Unilever has formed a small base on the daily chart inline with major support. There is also bullish divergence on the RSI and we believe scope for a bounce towards 3400p in the short term.
We could see this grind towards the target over the Christmas period.
Large move higher today which is strengthening into the close. This has come at key support on both a price and relative basis versus the benchmark.
There is bullish divergence on the RSI also.
Smiths Group has been steadily trending higher for many weeks. The shares are outpeforming the benchmark index and have recently undergone a correction. We are looking to use this dip as a chance to buy for the medium to long term.
Taylor Wimpey has steadily under performed the benchmark index over the past few months and looks set to break lower. Sell with a stop at 146.5p, targeting a move down towards the 'Brexit' low at around 118p
Provident Financial is outperforming the benchmark index over the past 3 months. The shares are trending higher within a channel and have bounced neatly from the lower end. Buy with a stop at 2956p. Target 3528p