FTSE - Forming a right shoulder?Trade Idea
Trading has been mixed and volatile.
The sequence for trading is lower lows and highs.
We have a 50% Fibonacci pullback level of 7374 from 7729 to 7020.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7375, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
We look to Sell at 7375
Stop: 7425
Target 1: 7235
Target 2: 7170
Ftse100
Tesco - Bouncing from the 61.8% Fibonacci supportBUY – TESCO (TSCO)
Tesco PLC (Tesco) is a retail company. The Company is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services.
Fundamentals
It’s been a tough few months for Tesco shareholders with the shares having slumped over 13% from the 2019 high. The business has embarked on a massive overhaul over the past 5 years to make the operation a lot more efficient, which has put the company in a good position overall. The operating margin is continuing to rise, and management believe 4% is achievable in the short term. The company looks set to maintain its position in the market and continue to grow its earnings.
Best Broker Target Price: 285p (Deutsche Bank 19/06/2019)
Worst Broker Target Price: 230p (Goldman Sachs 02/04/2019)
Technical Analysis
2019 started off so well for Tesco share holders with the shares rising from 187p to 254p in the space of just over 4 months. The recent decline from those highs has not been so impressive, but some support appears to be forming around the 61.8% Fibonacci support level at 212.7p. There have been a number of bullish candle around this price, which is an indication that buyers are returning.
Recommendation: Buy
Buy between 215-225p
Stop: 210p
Target: 250p
£20 Round Number Supporting GreggsLast post: August 13th 2019. See chart .
Review: Price was on the decline and was approaching £20.
Update: Price has now found support at the £20 round number.
Conclusion: We want to see if the support zone holds and pushes price back up. If it does, then we may see some long opportunity setups appear in the near future.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
Ocado - Looking ripe for buying.Technical
Ocado has had a dramatic rise in price over the past 18 months. The breakout level at 1163p has been retested and has so far been well supported. The shares have been in a consolidation phase for the past few weeks, but some signs are emerging that could put an end to the sideways price action. A move back to and above the previous highs is expected from here.
Fundamentals
The company continues to make strides into technology, which offers potential medium-term growth.
Numis reiterated thier 'Buy' rating on the 10th May 2019 with a price target of 1700p
Ocado has announced a string of deals and recently tied up a joint venture with Marks and Spencer.
Stop 1105p
Target 1500p
UK100, BREXIT,BEARISH WOLFE WAVE #RRR of 1:5 (AUTOLINES TEST4)HI BIG PLAYERS,
here I present a new Wolfe Wave in the UK100 chart.
This chart represent the 100 biggest share-companies of Great Britain. In any way we listen about the Brexit and the results of this decision is clear to understand for everbody. A big downtrend will build.
The Wolfe Wave pattern show a bearish incoming side. In addition, the reason for a bearish Wolfe Wave is the rebounce on Fibonacci line 1.382
Acutally the pattern give a Risk-Return-Ratio of 1:5, but this are a weekly chart and shows a longterm bearishtrade.
King regards
NXT2017
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I'm the second winner of the official German Forex Trading Conpetition in 2018.
Look here to the ranks:
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My strength in trading are Wolfe Wave pattern.
FTSE100 GBP hits the channel support | Upto 5.8% potentialAfter Jan 19 the priceline of FTSE100 GBP is hitting the support of up channel.
The price action has also support of 100MA and 200MA.
There is also a golden cross formation expected beneath the candle sticks which will produce a massive bullish divergence insha Allah.
I have used Fibonacci sequence for sell targets as below:
Sell between: 650.3 to 669.2
Regards,
Atif Akbar (moon333)
FTSE 2 hour ideaSimilar to my Dax idea just posted, a lot of world equities are bouncing...remember central banks can still cut rates and do QE/stimulus which means there will be nowhere to go for yield except the stock markets. The party might not just be over yet.
Similar description to the FTSE as with the DAX, a prolonged downtrend and basing at a support zone. We had a wedge and broke above the resistance zone and even the previous lower high swing.
7375 zone is a flip zone you should watch and then 7575 above.
FTSE100 UKX Long Trader / OpportunityFTSE100 Fell more than 7% from the recent highs from 7700 without any retracement. We can expect this whole move to retrace at least 38% from the bottom towards 7400.
We can go long on this if FTSE gets above 7200 after stock market open. Stops 6990 target 200pts
FTSE100 OVERVALUED - BULL TRAP - SHORT ITThe FTSE100 index is selling at a P/E of 17.2. This is quite high in a low interest rate, low growth scenario. The UK is in a mess, with Brexit problems, neighboring countries teetering on recession and Boris taking over the leadership. A DCF valuation of the FTSE100 using 3.2% growth, 8.6% discount rate it shows the index is 11% overvalued. I think the German DAX and US markets are going to tank soon, don't be fooled by the cut in interest rates in the US. The ECB can't really cut rates much more with low or negative rates already in Europe. Negative rates are a desperate attempt to inflate a sagging economy, European markets are ripe for a fall. The FTSE100 has jumped up a bit lately, this is a bull trap above the downward sloping trendline. The technicals are hinting at a coming fall. If you do short, I'd prefer to short the DAX as it has a lot foreign trade exposure with its auto industries. However, for those watching the FTSE100 index, a short now could be a winner.
FTSE 100 - Still long aiming for all time highsOn our analysis on the 24.07 we indicated that we were long the FTSE100 due to pressure GBP/USD due to the uncertainty surrounding Brexit which would be positive for the FTSE100 as a large proportion of profits for FTSE 100 companies are made in dollars. Since then the FTSE 100 has risen by nearly 3% and with the expected US rate cut on Wednesday we anticipate the index to reach all time highs at around the 7796 Fibonacci level.
FTSE 100 - Long We are currently long the FTSE 100 which has dropped over the past day on the back of Boris Johnson's appointment and the subsequent strengthening of the pound. The pound strengthened as the market hopes that initial comments by Michel Barnier the European Union's Chief Negotiator would open the door to positive negotiations between the UK and the EU. However, we believe that with the UK set to leave the EU on the 31st of October there will be pressure on sterling in particularly GBP/USD which would be positive for the FTSE100 as a large proportion of profits for FTSE 100 companies are made in dollars. Therefore we are long and will look to add to our long position just above the 7298 Fibonacci level with a view towards starting to take profit above 7700.
UKX FTSE100 1hr rejection from 7600FTSE 100 has rejected 7600-7590 area in the 1hr time frame, 3 consecutive times suggesting that a correction is possible.
If FTSE100 breaks below 7550 (23% fib level) we can see a correction upto 60% Fib levels at 7440-7430 levels.
But FTSE needs to break below 7550 to trigger this trade.
Stops should be above the recent highs.
FTSE - Stalled just in front of our entry level. Good enough?DAY TRADE - EXPIRES AT 9PM
We were looking for a dip to buy today but the market appears to have stalled in front of our entry level. Is this good enough reason to get long?
Overall we remain bullish.
Trade Idea
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Bespoke support is located at 7465.
Negative overnight flows lead to an expectation of a weaker open this morning.
As this corrective sequence continues we look to set longs on a dip at better risk/reward levels.
Further upside is expected although we prefer to set longs at our bespoke support levels at 7465, resulting in improved risk/reward.
We look to Buy at 7465
Stop: 7425
Target 1: 7545
Target 2: 7600
FTSE100 TO RALLY INTO DAILY HIGHSFTSE100 has recently tested a key demand zone and formed bullish price action.
We can expect this market to continue higher with targets being the daily highs.
The price is also supported by the 20 and 50 EMA pointing upwards with price rejecting
the key demand zone and the 20EMA.
FTSE 100 Breaking Resistance Levels!Last post: June 18th 2019. See chart .
Review: Price had just broken a resistance level.
Update: Another resistance level was broken with a strong breakout.
Conclusion: Price looks strong and we eventually want to see a break of the previous all-time high.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
FTSE UK Stock Index ( 7,190 is a very strong support)Updated View On FTSE (16 Apr 2019)
Back Ground: The bullish "immediate" momentum has definitely slowed. There may be pullback along the way. Watch out the region of 7,190 regions as it may act as strong support.
Target(s): Neutral
SHTF: It will use 7170 to 7190 as strong support region.
DYODD, all the best and read the disclaimer too.
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Thank You!
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Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
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FTSE 100 Breaking OutLast post: June 12th 2019. See chart .
Review: Price was around the daily 50 simple moving average.
Update: We have seen a nice move up today, breaking above a previous high.
Conclusion: The FTSE 100 is looking strong and we would like to see it break above the next resistance level.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading