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S&P 500 Back Above $3,000 After Coronavirus Scare!The coronavirus infected the markets last week, amid fears of a potential worldwide major outbreak and the possible effect that may have on the economy. In one week, price fell by over 10% which is a sharp decline in such a short space of time. The fall was only saved by a strong previous level of resistance turned support, formed from the high of 17th February 2018 at $2,940. Price has made a sharp reversal to the upside so far this week, also trading above the $3,000 round number. Price has some way to go before it can reach the current all-time high of $3,393 set 2 weeks ago, but price may head back up with a similar speed at which it declined. Going forward we want to see price remain above the $3,000 round number and we want to see higher highs and higher lows forming on the daily timeframe. This will indicate that the buyers are in control but a break and close above $3,393 will confirm a continuation of the uptrend. We still need to stand aside until the market confirms the bullish trend is back in play. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Yourgene Health - A break above 13.7p would target 16.9pYourgene Health PLC, formerly Premaitha Health PLC, is engaged in molecular diagnostics business for research into, and the development and commercialization of gene analysis techniques for pre-natal screening and other clinical applications in the early detection, monitoring and treatment of disease. The Company's product, the IONA test is a non-invasive in vitro diagnostic product for prenatal screening enabling clinical laboratories to offer a regulated non-invasive prenatal test in-house. The IONA test estimates the risk of a fetus having Down's syndrome or other serious genetic diseases. Market Cap - £71.88 Million The shares are trading in a well-established range between 10.50p – 13.7p. The shares appear to be heading to the upper boundary of the range and we expect an eventual break of resistance at 13.70p. A break of resistance at 13.7p should lead to more upside over the medium term. Our upside target is 16.9p, which is around 40% higher than the current price. A break below support at 10.5p would invalidate the bullish view. Interested in UK Small Caps? Join our free Telegram channel for up to date analysis on the best small-cap opportunities in the UK right now. t.me
YLong
by Investamate
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
LSE:OCDOLong
by Investamate