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Paddy Power Betfair (PPB) Short PPB's investors haven't had much to laugh about this year, not even their comical television adds could cheer them up, i'm sorry to say that from the looks of the daily chart the stock could be in for some more pain soon. After a tremendous run in may the stock has seen a lot of downside until finally finding support at the 6000 level currently the price is having it's third attempt to break the support. In the run up to the last two tests of support the stock has put in lower highers which suggests that the sellers are fully in control of the stock, the last two trading days of last week posted bearish inside days suggesting some indecision in the stock indicating a potential move this week. I am inclined to go short in the name with a stop order at 5999 below support and a stop loss placed at the high of the day prior to the break out from the support. If you enjoyed this idea give me a follow there will be more to come and if you hated it please let me also, happy trading. Joe LSE:PPB
PShort
by Joevose
UKX Reversed Off Resistance, Prepare For Further DropFTSE 100 approached our first resistance at 7233 (horizontal pullback resistance, 50% Fibonacci retracement , 61.8% & 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 6961(38.2% Fibonacci retracement , Horizontal pullback support, 100% Fibonacci extension ) Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
TVC:UKXShort
by FlowState
FTSE 100What do I see from the charts.. The FTSE 100 is the highest its been ever. Mainly due to the fact a weaker pound has improved the price competitiveness of our exports which has pushed the ftse over the last two years. Of course, the main factor of this chart is going to be news on brexit, so concentration on brexit news will be important. The relationship between GBPUSD and the ftse also has some similarities. Now for the price action and technicals. FTSE clearly broken down out of a rising wedge. It has retested and rejected of the 21 ema on the weekly time frame, and is struggling to maintain price above the 200 ema on the weekly at 6950. Personally I have a bearish outlook. It's touched the .382 fib retracement level for this move down and is coming up to the 55 ema on the daily which has confluence with the rising wedge. There is strong support at 6750, but should that break, a deep dive is likely to around 6300. I think there is room to retest the 7500 region, which is the golden fib zone for a retracement. There is also a nasty shooting star, which indicated its heading back down to retest support. The RSI is finding resistance and has just made a nose. I expect it to see 6800 again this week, and should this support not hold and make a triple bottom, we will see more bearish momentum. Price at 7300 would be good Risk to reward for a short with a stop above the 200ema on the daily, targeting the 6300 zone, which is also the golden fib zone for the move up from 5700 to 7800, providing us with good confluence. Depending on its strength, we may or may not reach 7500 at that blue box, but either way, it's a bearish outlook from me.
TVC:UKXShort
by Crypto_Joe1
FTSE100 slopes above the recent rangeUK100, Daily & H4 European stock markets are broadly higher. Eurozone markets, which rallied from the off led by Italy's MIB, have come off early highs, while the UK100 extended gains through the session and as of 10:34GMT was up 0.69%, while the GER30 was up 0.57% and the MIB up 0.78%. The broad move higher came after a strong session in Asia, where Chinese equity markets rallied again amid the verbal support from authorities and plans to cut personal income taxes to support the domestic economy as trade tensions start to have an impact helped to boost stock market sentiment. China's President Xi Jinping vowed "unwavering" support for the private sector, although it remains to be seen whether this is a lasting rebound in market sentiment. US futures are also up, while oil prices are down from early highs and at USD 69.20 per barrel. In the UK, the focus will be on the fragile political scene, with Prime Minister May due to make an unusual appeared at 14:30 GMT, in an attempt to shore up support in the face of growing support among her Conservative party MPs for a no confidence vote. May is to say that she is 95% of the way towards securing a workable deal, as well as providing details. Whether this will be enough to save herself remains to be seen as her Brexit plan is deeply unpopular among significant portions of both Eurosceptic and Europhile members. The Pound has declined by average of nearly 1.5% versus the Dollar, Euro and Yen over the last week, which reflects an increased Brexit-risk discount after the October-17 Brussels summit, which had only recently been trumpeted as a make-or-break threshold, came and went without any sign of a breakthrough on the seemingly insoluble Irish border problem, and with the EU cancelling a formerly pencilled-in special Brexit summit for mid November due to the lack of progress. Now the Prime Minister is facing an existential threat, with the Conservative party's 1922 Committee, formed of backbench members of parliament, needing only two more letters from party MPs to trigger a no confidence vote. This would pave the way to a leadership challenge, which would hurl a spanner in the works of the time-running-out Brexit negotiation timetable. Along with Pound discount, we have seen so far UK100 moving higher, crossing earlier above the range 6922 - 7095 in which was stuck for the past 7 days. A closing today above this barrier, could suggest that in the near term the index is ready to recover a bit from the sharp drop in October. This is based on the positive bias presented as the UK100 is off its lows moving above 23.6% Fib. level set from 7557 high and by forming higher lows since October 11. However in longterm, such move higher cannot confirm the turn of the overall negative outlook into a positive one, but could oppositely alert a possible selling opportunity.  This is based on the decline seen for UK100 since May, with the index looking unable to recover  since then, by forming lower highs. Hence any rebound could just show a short-term recovery for this long-term decline, and therefore another opportunity for a possible sell-off. Meanwhile, daily momentum indicators support the increase of negative momentum, while intraday indicators are sloping northwards stating the rise of positive momentum in the near-term. To sum  up, a close today above 7095, could trigger the attention towards 7220-7260 area. The latter coincides with August's lows, 20 day SMA and 50% Fib. level set from September's peak.Further gains could lead towards 7400-7450 Resistance area (i.e. between  trendline connecting lower highs and 200-day SMA). However a failure for index to sustain an upwards movement would suggest the return to 6922 Support level. Intraday Support levels are set at 7035 and 7000 Andria Pichidi Market Analyst Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
OANDA:UK100GBPShort
by HotForex