Morrisons short!earnings coming tomorrow (7th) and barcleys analysts are predicting a sharp decrease upon expected earnings looking to hold short here and see what happens tomorrow morning Happy trading!
MRW
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
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
Buy Morrison SupermarketsMorrison Supermarkets has outperformed the FTSE 100 index by over 10% in the last 3 months. The shares are also outperforming their sector index in the same period. The shares have completed a base pattern on the weekly charts and look set to keep pushing higher over the medium to long term.
