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HSBC (HSBA LN) earnings MondayThe banking sector has been hit by Trumps latest resurgence in the polls, but the UK banks received a slight boost after a UK court ruled that MP's will have a say on when and how article 50 will be invoked, increasing hopes of a soft Brexit. The weekly chart has printed a bearish candle signal but on the daily chart prices look overstretched. on the D1 chart the RSI indicator is making lower lows while price is making higher lows (Divergence). Currently is right in the middle of value which indicates if earnings come out of line we could see a move into a new distribution. The weekly downtrendline has been broken but since price has moved back in but on lower volume. On the lower timeframes we are in a uptrend, but the recent retracement looks strong but overdone. R3 660.00 R2 Weekly downtrend line R1 Daily downtrend line Current 592.80 S1 590.20 S2 558.00 S3 541.86 S4 489.52
LSE:HSBA
by RajDhall
Shell (RDSA LN)This Co. has has a interesting time in recent months, the will they wont they OPEC saga has made energy based shares volatile. The most recent rhetoric from today has been from Saudi Arabia who stated that they considered scrapping output cuts if Iran refuse to join in. Last week API and DOE crude oil inventories reported a large build which doesn't bode well for the stock price. In regards to the chart the long term trend is bearish (D1) but more recently share price retraced after the output cut was announced. On the H1 chart price has made a lower high and the previous wave low has just been broken at the 2026 area which could confirm a change in trend. In regards to value we are at the bottom of the recent value range but could break into the lower mean price range between 1980 and 1900. R5 Downward trendline R4 2125.30 R3 2093.84 R2 Internal downtrend line R1 2026.62 Current 2019.00 S1 1956.17 S2 1940.00 S3 Upward trendline S4 1929.80
R
by RajDhall
Barclays (BARC LN)Barclays (BARC LN) – recently Co.’s shares have taken a hit after Trump gains ground in the election polls. Yesterday shares received a lift after UK courts decided that MP’s must be involved in the invoking of article 50. This led financial names and GBP to rally as a soft Brexit may be the outcome. Taking a look at the chart we are in a technical downtrend on the D1, but on the lover timeframes we are clearly making higher highs and higher lows. In terms of the RSI on the D1 chart we are still in positive territory, albeit mildly so. On the hourly chart we are seeing a bullish failure swing develop which suggests we are slightly stretched short term. We are slightly above the relative value area on the H1 chart which does suggest after a mild retracement we could see prices move back to the 170-172 area, but the 180.53 support zone would confirm a break lower as the first lower high and lower low would be confirmed. R3 192.99 R2 downtrend line above current price R1 187.065 Current 180.65 S1 179.73 S2 177.04 S3 174.81 S4 161.09
LSE:BARCShort
by RajDhall
FTSE 100 CashThis market is still in a technical uptrend although signs are beginning to emerge that we may be falling off, but the confirmation will come if the 6700 level is broken to the downside. In terms of indicators the RSI has moved into bearish territory but is producing a bullish failure swing. On the monthly timeframe the candlestick action is very bearish but despite this the daily chart is showing signs of exhaustion (which means we may see a retracement). In terms of fundamentals today we saw a court ruling that MP's will have a say on invoking article 50 before it is triggered which was bullish for GBP but bearish for large caps like GSK and mining names, this is due to their profits being denominated in USD. Importers like Dixons Charphone and companies that need a stong GBP i.e. Ryanair this was positive but these companies make up much less of the FTSE100. R2 7098 R1 6940 Current 6809 S1 6780 S2 6704 S3 Downward internal trendline starting 15th Aug
TVC:UKX
by RajDhall
Schroders (SDR)Since hitting 2000.00 the share price has retraced 41% and since have consolidated around the 2800 area. The average estimates from brokers are still at a hold - buy rating. The RSI is showing a bullish failure swing with the indicator making lows and the price making a higher low. On the weekly chart price action has been bearish with a shooting star candle (last week). However, the daily chart contradicts this with a hammer candle rejection of the 2754 lows. R3 2876.80 R2 2850.00 R1 2800.00 Current 2722.00 S1 Upward trendline starting from June 6 low. S2 2722.00 S3 2651.00 S4 2620.13
LSE:SDR
by RajDhall
Morrison (MRW LN)Price is in a firm up trend despite retracing recently and in recent Kantar surveys showed the Co.'s market share decline 3.2% but stand at a respectable 10.4% with Tesco still in the lead at 28.2%. However, recent news for the Co. has been positive with the tie up with Amazon and their last set of earnings showing an increase in revenues. R3 230.14 R2 Intraday downtrend line R1 223.56 Current 221.41 S1 216.98 S2 214.87 In terms of Value Areas we have extended above the mean area on the daily chart and would need another distribution if results are outstanding. If results are worse than expected we could see prices trade back into mean value at around 200.00
M
by RajDhall
Morrison (MRW LN)Price is in a firm up trend despite retracing recently and in recent Kantar surveys showed the Co.'s market share decline 3.2% but stand at a respectable 10.4% with Tesco still in the lead at 28.2%. However, recent news for the Co. has been positive with the tie up with Amazon and their last set of earnings showing an increase in revenues. R3 230.14 R2 Intraday downtrend line R1 223.56 Current 221.41 S1 216.98 S2 214.87 In terms of Value Areas we have extended above the mean area on the daily chart and would need another distribution if results are outstanding. If results are worse than expected we could see prices trade back into mean value at around 200.00
M
by RajDhall
LONG POSITION ON SANTANDER S.A. - D1FOR THOSE WHO DO NOT KNOW SANTANDER S.A. IS ONE OF THE MOST IMPORTANT BANKS IN SPAIN. THE STOCK VALUE HAS BEEN DECREASING SINCE MAY 2015 WHEN THE PRICE WAS WORTH 6.80 € A SHARE. NOW SANTADER IS 3.87 € A SHARE AFTER 1 YEAR AND 3 MONTHS APROX. THIS FALL HAS STOPPED NOW. FIRST SIGN OF CHANGE OF DIRECTION WAS THE TRIPLE GROUND SUPPORT LEVEL BELOW. THE MARKET CHANGED DIRECTION AND IT HAS BEEN FORMING A SOLID TRIANGLE PATTERN WHICH HAS BEEN FINALLY BROKEN. I HAVE PUT A BUY LIMIT ORDER AS YOU CAN SEE LOOKING FOR THE RETESTING OF THE TRIANGLE. IF IT HAPPENS WE COULD MANAGE TO DO A VERY NICE ENTRY TOWARDS TO FURTHER RESISTANCE LEVELS FROM THE PAST YEAR AND 3 MONTHS AND LOOK FOR MANY BENEFITS! TELL ME WHAT YOU THINK ON THIS!! CARLOS
BME:SANLong
by ccerezo11
4
$REN Short $REN I will be looking to short depending on Price action at the open. The stock is a previous runner where it managed to almost get to 9.00. However, following four days of solid volume with massive gains, the chart looks over extended and had fading volume. I will look to enter on the open or possibly into the late afternoon to hold over the weekend depending on P.A. and level 2 data. I am remaining conservative with my risk and will probably trade no more than 1000 shares with a risk of around 10 cents per share. If it drops of a cliffs edge then there is a potential 60% return. Happy trading.
RShort
by barry_fxtrader
Standard Chartered – Bullish break lacks supp of strong volumes Standard Chartered shares are flirting with inverse head and shoulder neckline and appear poised to close the day higher. That would be confirm a bullish break and present a technical target of 831. However, as of now, that appears a big task given the banking concerns in Europe. Nevertheless, a bullish break on day end closing basis would open doors for 659.50 (Sep 15, 2015 low). But bulls need to observe caution as we have a negative volume divergence i.e. volumes are sliding, hence the breakout could turn into a ‘fakeout’.
LSE:STAN
by TipTVFinance