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
Shares
MICROSOFT - bulls going to move onWave of 5 is likely going to be continued, so I'm going to buy soon
Gold Correcting ContinuesGold continues to correct despite the soft rally now taking place. I am inclined to think the highs will open some good sell side opportunities.
mka longone ive watched since IPO and missed my buy. byt eventually got my buys, average : 4p ish. not planning on selling around here. TP; 8-10p
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
JUSTDIAL FLAG PATTERN AFTER BREAKOUT THE CHANNEL IT FORMED FLAG PATTERN , BUY IT OR WAIT TILL HIT BOTTOM
Rio Tinto – Inverse H&S breakout on weekly Rio Tinto weekly chart shows inverse head and shoulder breakout, although subsequent rise has been capped repeatedly around 2550 levels.
On the daily chart, both the RSI and money flow index suggest increasing bearish pressure on prices.
Hence, we could a minor drop to 2390-2350 area.
However, overall view stays bullish unless the weekly close is below neckline support level.
$REN Short $REN I will be looking to short depending on Price action at the open. The stock is a previous runner where it managed to almost get to 9.00. However, following four days of solid volume with massive gains, the chart looks over extended and had fading volume.
I will look to enter on the open or possibly into the late afternoon to hold over the weekend depending on P.A. and level 2 data.
I am remaining conservative with my risk and will probably trade no more than 1000 shares with a risk of around 10 cents per share. If it drops of a cliffs edge then there is a potential 60% return.
Happy trading.
CDTI Short$CDTI rose sharply following a Gap Up over the previous few days due to good fundamentals and a contract win with Honda.
However, the chart was over extended and volume started fading into the close on the 12th of July so I shorted on the first red day with one of my brokers who had shares to short.
I anticipate that this will follow through to 0.50 (and possibly beyond) level where I will cover.
Happy trading
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’.
About @FourierPredictorBot Telegram botCheck new free @FourierPredictorBot Telegram bot for stock movement prediction.
National BankShares on the wedge down pattern.The price of the shares of National BankShares has formed the wedge down pattern, the price now break the pattern and looks like it will continue to rise. It may be a good oprotunidade to trade some shares of NKSH.
My sugestion:
Entry point: 34.25
Stop loss: 31.39
Profit target: 39.93
Intel forecastThe long zone starts at the 32.00 level. The potential targets can be the larger offer levels of Institutional Holders. These are the 33.71 and the 34.90 levels.
Microsoft forecastThe long zone starts at the 53.22 level. The potential targets can be the larger offer levels of Institutional Holders. These are the 53.95, 54.90 and the 56.20 levels.
Follow Smart Money
Twitter: @FXSmartMoney
SIRI Buy Option SIRI has had a rather stable support line at 3.63 but when it was violated, market tumbled down till 3.30.
This has created an over-sold market with a trend in an upward direction. Past support has now become resistance at 3.63. This is a very important line taking into account past structures: market is giving us signals.
Therefore, taking into account the power of the resistance line and all three strength indicators, one should short SIRIUS XM HLDGS INC. We have entered an over-bought market and hit a strong resistance line, all implying a decrease in the price.
