Coming off the back off an extended period of bullish gains for the pound, it looks like momentum has reversed. The UKX has fallen 200 points today and expected covid-19 lock down extension announcement tomorrow should add pressure to the pound.
Today's price retraced to the 61.8 level and has since rejected the uptrend support line and then resisted the 1.25304...
Anto looks good for a short.
Resistance level has been tested a few times in the past 5 months. It almost broke through last week but yesterdays pin bar bouncing off the resistance level and today's indecisiveness leads to me to think this will drop circa 60 points.
Not being greedy on this one as it looks a bit risky. Target is 50 points with a stop loss at 17.5 points.
Alternatively it might breakout of the current trendline and drop but on the 1H chart the RSI has turned and it looks to be bouncing off the lower trendline.
Taylor Wimpey typically trade well over the Winter period which we are about to enter.
154 resistance level has been broken.
Possible bounce off the current highs at 165 and a retest at the 154 support level.
Alternatively and hopefully it will break through the trending highs at 165 and onto 176 where it will test the support level
Aiming for 10%
Tesco are looking pretty good for 2019 climbing 33% from 190 in January to 253 at the end of April. They've been on a decline since then due to strong market competition, economical challenges looming with Brexit, increasing pressure from the discounters in particular Aldi increasing market share. Tesco have taken a slight dip in market share but still the clear...