Sainsbury £200 to £300 playStock should be trading around £300 / + 150% in 18 months. Not a bad trade for investors looking to play it safe in the face of an 'alleged recession' being in the post. The stock has been trading inside this descending triangle for years and just confirmed support on the bottom.
The monthly chart below confirms the bullish divergence.
SBRY trade ideas
Sainsbury's snap election tradeWith Snap election on December 12, Sainsbury's offers great opportunity. As the company gets all of it profit in UK, it is very exposed to the election results.
Since Conservative win is considered good for Brexit progress, UK stocks expected to rise on it. Results will be released around 2am on Friday.
So far the polls suggest that Boris should win.
Good Luck!
$JSAIY bullish move above 200ma J Sainsbury Plc engages in the retailing, financial services, and property investment businesses. It operates through the following segments: Retail-Food, Retail-General Merchandising and Clothing, Financial Services and Property Investments. The Retail segment distributes food, general merchandise, and clothing. The Financial Services includes Sainsbury's Bank Plc and Argos Financial Services entities. The Property Investments segment consists of the British Land Company PLC joint venture and Land Securities Group PLC joint venture. The company was founded by John James Sainsbury and Mary Ann Sainsbury in 1869 and is headquartered in London, the United Kingdom.
P/E ratio 23.63
yield very high at 4.76%.
Bullish Pennant Looking to trade a breakout from this continuation pattern, lets see if we can get it. Fundamentals are looking good with the Asda/Sainsbury merger, and we have recently broke out from years of sideways action. I think there's a possibility we can reach 2014 previous highs of around 427, depending on how well the stock market does in the coming months.
Looking good for #SBRYLooking at the chart now, you can see since the merger was announced price gapped higher to trade around 315p. We now have a new consolidation range between 294 - 327p and I am waiting to see if we get a break on with high volume today. On the downside keep an eye on the previous consolidation top specifically 294 and 280p and the next resistance is the 350p psychological level.
Details from todays RNS:
· Total retail sales up 0.8 per cent (excl. fuel) with like-for-like sales up 0.2 per cent (excl. fuel)
· Grocery sales grew 0.5 per cent with Groceries Online and Convenience up 7.3 per cent and 3.6 per cent respectively
· General Merchandise sales grew by 1.7% and Clothing sales grew by 0.8%, both outperforming the market
Sainsbury - A bottom may be in placeThe daily, weekly and monthly chart do not show any clear trend. Hence, we swtiched quarterly chart, which shows multiple 3-month candles with long tails.
Since October 2013, sellers have repeatedly run out of steam in the range of 210-230. The MACD also shows the loss of bearish momentum.
If charts are anything to go by... this could be the ideal time to enter into Sainsbury/UK retailers
Sainsbury's Earning (SBRY LN) Tomorrow we have results from Sainbury's (SBRY LN), in recent times the share prices have performed pretty well (H1). In terms of Co. specific news we will be looking out for news regarding the pension deficit which has increased from GBP 389mln to GBP 900mln - GBP 1.3bln according to reports in the Times. Also another thing to consider is the recent acquisition of Argos which also needed GBP 50mln to fill a pension deficit. Analysts do believe that pre tax profits and revenues will increase. Be aware tomorrows price movements may be dictated by macroeconomic themes (US election).
We are right in the middle of two distribution points today with value either side if reports come in strong the upper value area of 279.87 looks to be the first target and if we see a bad set of results the 245.00 value area could be a support zone.
R4 293.77
R3 279.87
R2 270.60
R1 263.13
Current 254.20
S1 253.49
S2 247.69
S3 238.99
S4 277.91