Will FTSE also fly like Dow ?Hi,
on this chart,
I have drawn, important weekly and daily support marked by green line.
Then I have drawn a parallel channel ( almost, a bit modified due to price fulucatations ) which displays the price reaction points.
My view is that FTSE would rise,
and touch the upper trendline.
I have also posted instructions on the chart itself.
Thanks.
FTSE
LONG GENL In Late March There's a nice buy confluence on the chart pointing towards a move in late March here. I think there's a chance it could break early though, as there are a lot of other companies with confluences in early/mid march and this could be dragged up accordingly.
Short BT to the bottom trend lineAfter the break of the higher multidiagonal, it looks like we could be due a trip to the lower diagonal at ~2.75p
FTSE / UK100 Potential Rally.The FTSE has passed its historical key resistance in October of 2016. On both the weekly and monthly chart it shows a clear uptrend. My reasoning is very straight forward here, wait for it to reach the confluence of S/R and the 38.2% Fib and initiate a long position.
FTSE 100 - Short term sellSince the vote on Brexit, the path taken by the index is fairly obivous. The impulsion started at the end of June then is followed a period of consolidation from beginning of August until the end of 2016.
The new year started with a serie of new highs when the index reached 7341
The daily graph shows some sign of a reversal with a recent cross of the MACD, a momentum about to go into negative territry and a clear downtrend on the RSI. These indications open the way for a short term downtrend.
This feeling is confirmed by the weekly chart, showing a nearly perfect Marubozu, sign of a reversal in investors' mind and displaying an obvious sellers' dominance.
- Short term, close long or open short to get the opportunity of the index going down until its trend (or 50) near the 7,000 mark
- Mid to Long term, the uptrend still prevails.
- A break below the 7,000 points would confirm the short term short position and initiate a short position.
- On the contrary, a rebound would be a good entry point for a long position
FTSE rising wedge developing?The current rise looks like it has the potential to become three waves that might be the start of a rising wedge. C=A in the 7170 area. Of course it can also go straight to the 7280 target, but that looks less likely.
We remain cautious of further FTSE gainsFTSE continues to strengthen, with the bounce from the 6676.56 monthly low of 4 November posting new highs to pressure the 7340, (150%) projection of the October-November fall.
Continuation to the 7395.00 projection cannot be ruled out, but profit-taking risks are increasing at higher levels, as studies remain mature. In the coming weeks, profit-taking risks are highlighted, but downside tests should remain limited as background studies improve and investors maintain a buy-into-weakness strategy.
Support is raised to the 7210 break level, but a close below the 7130~ high of October 2016 is needed to add weight to prices and turn investors cautious. A further close below congestion around 7000, however, will open up the 6875.40 low of 12 December as investors subsequently move to a negative stance.
UK 100 : D Keep an eye on continuation or reversal signalAs shown in this chart, there are 02 pissible cases:
- Break of momentum at 7339 level;
or
- BO that can gives more up towards 7539
Long Set up on CobhamThe multidiagonal lines currently suggest that COB will be a good buy in early April.
If I remember to I will post some more detailed charts closer to the time to try and pin down a more specific date for the move.
Sage Group ready to roll over?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 bearish engulfing candle on Tuesday. We therefore expect to see this fall in the short term. Stop loss at 667p, targeting a move to retest the recent lows around 620p
long UKX @ 1h @ trading capability for this 1st week `17This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
FTSE gains to prove progressively more difficult to maintainFTSE continues to strengthen, with the bounce from the 6676.56 monthly low of 4 November posting new highs above the psychological 7200 level at 7211.96.
Continuation to the 7236.25 projection is highlighted, but further gains are expected to prove progressively more difficult to maintain, as studies begin to mature. In the coming weeks, profit-taking risks are highlighted, but improving background studies should limit downside tests, as investors maintain a buy-into-weakness strategy.
Support is at congestion around 7000 with any break turning investors cautious once again as subsequent focus turns to the 6875.40 low of 12 December. Further slippage below 6800 will add further weight to sentiment as critical support at 6655/75 then comes into view.
SIMPLE IDEA: FTSE 100 SHORTBearish divergence on 4H chart.
GBPUSD up 120 pips from 1.22 lows.
Target: missed weekly pivots at 7040, 6970
Sell Marks & SpencerMarks 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
FTSE possible abc rally patternFrom the low at 6676 FTSE appears to be trying to complete an abc rally to a new high where c=1.618*a at 7200
FTSE possible W3 target at 7280At 7280 FTSE will be at 1.618*W1 which is very likely the target for wave 3. Notice the Wiv low at almost exactly 38.2. The recent action appears to be a three and might be the first part of a rising wedge, or the middle part of a flat. It can also be the 5th wave of course if W4 ended at 'b'.
UK100 reaching historical high.As the UK100/FTSE reaches its historical high at 7127, I am looking for a clear opportunity to short and scale out potential profits at clear S/R points.
Sell PearsonPearson 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
Bearish divergence at resistance for BPBP 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.
Sell Babcock InternationalBabcock 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
Buy DCCDCC 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.
Buy UnileverUnilever 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.
UK FTSE to find difficulty maintaining higher levelsUK equities are consolidating the steep rally from the June lows, as prices turn choppy below congestion around 7000. A push above here cannot be ruled out, as the Tension Indicator continues to advance, but falling stochastics are expected to limit scope, with the critical 7122~ contract high of April 2015 to provide a barrier.
In the coming months, downside risks are expected to increase, as investors maintain a cautious stance, with a close below the 6654.48 low of September opening up lows down to congestion support at the 6500 retracement. Further slippage towards 6300 cannot be ruled out, however, as longer-term studies show fresh downside development.
An unexpected close above 7122~ will open up the 7325, (50%) projection of the 2009-2015 rally, before fresh selling pressure appears.
