Resistance turned Support on Tesco $TSCOA bit of a sell off this week but we saw a bounce off a trend line I previously drew on the last weekly resistance top. If this level holds we could see Tesco go higher
TSCO trade ideas
Tesco May Start A Bull TrendLast post: April 19th. See chart .
Review: Price was approaching the resistance level from the April 2015 high.
Update: Price is now above the resistance level.
Conclusion: If price can remain above the resistance level then we may see the start of another bull trend in this stock.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Will Tesco Breakout Soon?Tesco is gaining more and more strength as it attempts to release itself from the consolidation zone.
In my previous post here , price had broken through a resistance level.
The next level we need price to break is the resistance level of the consolidation zone. Should price fail to break that level then
price may remain within the consolidation zone for a while longer or it could attempt to break through the consolidation support level.
Price remains above the 50 & 200 simple moving averages on the Weekly and Daily timeframes so the bias is bullish.
Remember that we can not predict which way the market will go and this is why we need a breakout to confirm trend direction.
If price breaks above the resistance level then this gives us the confirmation that there should be more movement to the upside
and puts the odds of a profitable long trade in our favour.
Lets wait and see what happens with Tesco going forward.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Clear breakout for TescoClear breakout for Tesco last week.
Needs to convincingly break 252p before the trend is completely reversed.
Tesco May Be Starting a New UptrendTesco has broken the resistance level. The previous pattern consisted of lower highs and lower lows.
This may now change to higher highs and higher lows and if this is the case then we may see a bull trend form.
We would preferably like to see pullbacks that are not too deep and we want frequent breakouts in an uptrend which would
indicate to us that we are in a strong uptrend.
Price is above the Weekly and Daily 200 simple moving averages which gives us a bullish bias.
On the daily timeframe (not shown) there was a gap up after price broke above the resistance level and if the momentum continues
then we could see a strong uptrend unfold.
Price trended well in the past from 2003 to 2007 from £1.55 to £4.70 so time will tell if price will be able to repeat that trending
period again going forward.
As price has just broken out of consolidation it would be best to wait for another breakout before considering a long trend.
Patience for now as we wait for a trend to form.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Is this Tesco's breakout moment?Is this Tesco's breakout moment
after breaking out of a triangle pattern started in early 2015?
Good figure from Kantar today have helped the share price
but this is just a small part in the general "scheme of things".
Limitations: 218p resistance and 200EMA resistance. Once past that then it has room to run.
Tesco PLCPrice made a scymmetrical triangle pattern, broke upper trendline and now making a pullback. After pullback to the previous high, wait for a nice bullish candle to go long.
-Tesco PLC - Buy
-Entry - 210.30
-Take Profits - 212.50; 216.00
-Stop Loss - 209.50
-Support (Team)
Is $TSCO heading for a break out?Now the triangle has almost formed,
is Tesco heading for a breakout?
Needs some very good news to push it up though.
Tesco after earnings #tscoNews this morning - Tesco H1 18 Earnings Results: Revenue: GBP28.3B (est GBP27.62) Dividend: 1p and UK LFL Sales Up 2.2%.
Two members of Tesco's financial team resigned in 2014 because they were concerned that their professional integrity was being compromised by what they were being asked to do by their bosses, a court heard on Yesterday.
Now we have cleared the major value area, we should look
at price action on any potential retest. Also if volume continues
to back this upward trend look for a rest of 220p
Supermarkets under pressure since Amazon announcement supermarkets have something to worry about. Amazon who recently bought Wholefoods said they are set to drop prices at the organic supermarket and offer a delivery service like no other. Sticking with supermarkets Kantar Worldpanel showed the big four are going strong and Lidl stepped up to become the 7th largest grocer in the country. Tesco shares rose as it came out way ahead in terms of market share at 27.8%.
#TSCO.L indicators suggest sellStrong negative RSI divergence and at top of parallel channel. Supported by SMA50, so it needs to break that first, and then properly fill the gap around 190p, which wasn't filled before. Short stop order around 205p TP 190p, perhaps then use SMA50 as stop.
TESCO - BUYING THE CORRECTION Nice chart, i have been waiting for Tesco share price to drop finally below 170 for some weeks, so i can start pick up some longs.
I am seeing good potential on this stock for a possible bull move above 220, but it will take some time.
The correction might come to an end in the coming weeks.
The alternative scenario would be that price breaks down, and bears push it to 100.
150 should not be broken.
Please use proper risk management, make your own analysis and dont overrisk on one trade.
Blessings to you all.
Tesco Share Price Will jump from 205.06 to 217.80 Up Trend Line broken by a green candle with a high volumn. the trend has been retested once and in the second test we expect price will jump high (approx. to 217 Pounds.)
Moreover, currently Pin Bars candles formed above the trend!
Tesco SupermarketTesco Supermarket a buy at 176 to 175 mark and sell at 185 ish?
BBC news announced today Tesco recovery gathers pace in the UK.
TSCO....strong rising after return of fib prz (50-61.8 ) we can see 3 big bullish candle ....
and a breakout of a price level ...
buy...
sl = 190
Is the Booker deal on? #TSCOLooks like theres trouble at Tesco with not all the shareholders agreeing on the Booker deal
Looking for a move back into the value area #TSCO #TRADING #FTSEMove away from the value area looking for a move back in
Rejection of mean value but it doesnt look like its overClear rejection of a previous value are but I still expect prices to move lower before a consolidation.
Tesco Confluence PointTesco (TSCO:LSE) looks to be approaching a confluence point around the start of February. RSI has been finding support around the 40 level or just below indicating that if price can manage a gentle glide towards this point there could be a move up off the confluence in Feb.
UK STOCK TESCO, H1 LONGPrice after several day of dropping broke descending trendline and made higher high. Now I will observe while price will retrace and I wait on secound long trade.
Tesco looks set to test monthly 50-MA hurdleTesco looks set to rally further. In the short-run the psychological figure of 200 is likely to act as a base.
Bullish price RSI divergence
Bullish break from the triangle pattern
Bullish crossover on the Monthly chart
Thus, the stock appears on track to test the monthly 50-MA seen today at 255.51 levels. The moving average is seen sliding lower to 245-247 by year end.
