#ACP - looks like a new rising channel could be forming. The previous move in this channel retraced 50% before moving up again. This current retrace has bounced off the 50% fib line today. If the pattern repeats the previous move then first target is between the 1.272 and 1.618 fib lines or 6p to 6.8p share price.
#JKX looks like it has been in a downtrend from March 2019 and it now appears to be forming a new channel that looks like it will break the downtrend. RSI is tightening into a narrow band too. Nat Gas prices rising and oil price on a long term recovery. Daily Volume has been just over the 14 day average with MACD about to turn bullish. Key areas of resistance...
Not 100% certain with this one, but it looks like #RDSB downtrend may be heading to 1030 area which is the 0.786 fib from the March low to the April high. Closing price Friday at 1080 appears to be a double bottom and could be a reversal signal, but I am targeting 1030 and a bounce off the 0.786 fib for a run at 1140 area and above it it goes to plan. Happy to...
#jkx well that came quicker than expected! Breakout on solid volume and closed at a good price. Break and hold above 23p and this could possibly set up for a very bullish run.
#JKX looks like it may be bouncing from the lower trend line and if a reasonable buy volume comes in it could easily breakout of the longer term range. seems to have dropped back on low volume so a decent surge of buying is unlikely to meet big resistance. First target to break, and hold, is 23p for a great set up imo.
#RRE looks like it rejected the lower trend line and should now fill the gap. Fibonacci confluence in the shaded rectangle which is where it should settle and be range bound until oil price spikes higher or a new deal lands.
Rectangle area shows possible target for next move up. Confluence of the Fibonacci lines from the last move up to £23 and the current trading range from the drop below the gap.
with oil getting smashed I am not mega confident, but is there a possibility of #RRE finding its bottom at the 1.618 level of £12.55 ? The selling volume has been relentless but MACD and rsi will need to cool off soon.
looks like #ACP has bounced off the 50% retracement line at 2.40p with volume higher than the 14 day average. Hopefully it pushes onto the next Fib at 2.74p tomorrow.
#RRE The move from pre-suspension (£7.70 low) to the high on the opening day (£22.10) has the 0.5 fib at £14.90 and from the most recent low (£16.60) to the £23 high has a 1.272 fib of £14.90 Both of these markers were tagged today. Hopefully this confluence of short and long term trend is the bottom? The fib from the opening day trading (open of £17.50 to...
Interesting chart set up with the 1.618 being tagged today from the recent move. Trendline being re-tested from original breakout. RSI in oversold territory. With decent buying momentum this could have a good run from these levels.
#RRE looks like this could possibly bounce of the RSI trend line with the 1.272 fib extension at the £25 area. If last weeks good volumes continue then this could be a great play.
#RRE broke out of previous range on volume and now seems to have a formed a new uptrend. Long term and short term fibs aligned at 1.272 and 1.618 in the £25.80 area. Current price bouncing exactly off the 0.618 retracement of the recent move. RSI also on the support line and due a bounce. MACD about to touch and hopefully bounce too. Seems a good set up all round.
Does it look like a possible harmonic Pattern forming on TXP with an possible entry long at the 17p to 18p area? Share is waiting for news so possible drift to this area?
Breakout of current trading range and RSI breakout above its support/ resistance into the bullish zone above the hashed blue line with MACD looking strong.
