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UK FTSE to find difficulty maintaining higher levelsUK equities are consolidating the steep rally from the June lows, as prices turn choppy below congestion around 7000. A push above here cannot be ruled out, as the Tension Indicator continues to advance, but falling stochastics are expected to limit scope, with the critical 7122~ contract high of April 2015 to provide a barrier. In the coming months, downside risks are expected to increase, as investors maintain a cautious stance, with a close below the 6654.48 low of September opening up lows down to congestion support at the 6500 retracement. Further slippage towards 6300 cannot be ruled out, however, as longer-term studies show fresh downside development. An unexpected close above 7122~ will open up the 7325, (50%) projection of the 2009-2015 rally, before fresh selling pressure appears.
TVC:UKX
by Michael_Macdonald-XATSUK
FTSE to find difficulty maintaining levels above 7000FTSE has bounced smartly from above the 6676.56 monthly low of 4 November, with prices now pressuring the 6956.70 retracement. Extension to congestion around 7000 is highlighted from rising momentum studies, but any further gains are expected to prove difficult to maintain, as the Tension Indicator, (not shown), continues to weaken and investors maintain a cautious stance. A close above 7000, however, would improve sentiment and open up highs towards the critical 7129.83 high of October. Support is raised to congestion around 6800, but a close below the 6615/76~ lows is needed to confirm continuation of the October bear trend and turn investors bearish once again.
TVC:UKX
by Michael_Macdonald-XATSUK
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Supergroup PLC – Awaits Symmetrical triangle breakoutOn the daily chart, we see a larger symmetrical triangle formation. Off late, the stock has been restricted to a narrow range of 1520 to 1580. The daily RSI has turned flat, however, the daily MACD shows loss of bullish momentum following a sharp rally from late Oct to mid November. Hence, a bearish break from the narrow range of 1520-1580 appears likely. Prices could extend losses to 1427 (Sep 15 low) in this case. On the higher side, it is advisable to wait for a bullish break above the triangle resistance.
S
by TipTVFinance
HSBC Holdings - Time for a healthy correctionRight hand side - Daily chart Left hand side- Weekly chart The bearish divergence is quite clear. The price is sliding higher against the trend line, while the RSI is moving in a downward channel. Unless, the RSI breaks higher, there is little reason to believe the stock could rise further. Over here, the RSI is sowing a bearish divergence...while the MACD is showing the loss of bullish momentum. Overall, it appears the stock is poised for a much needed healthy correction to 600-580 levels.
LSE:HSBA
by TipTVFinance
Taylor Wimpey – Falling channel intactUK’s FTSE 100 index was boosted today by house builder Taylor Wimpey which said trading had been "strong" in the second half of the year. Technicals – Falling channel on the daily The share is trading around 150p. Prices need to close above the falling channel hurdle, which would signal continuation of the rally from the post Brexit low. On the higher side, resistance is seen at 160.02 (Oct 4 high) – 160.67 (50% Fibo of May high – June low). Given the 50-DMA and 100-DMA are sloping lower; the odds of a bullish break from the falling channel are low.
LSE:TW.
by TipTVFinance
HSBC (HSBA LN) earnings MondayThe banking sector has been hit by Trumps latest resurgence in the polls, but the UK banks received a slight boost after a UK court ruled that MP's will have a say on when and how article 50 will be invoked, increasing hopes of a soft Brexit. The weekly chart has printed a bearish candle signal but on the daily chart prices look overstretched. on the D1 chart the RSI indicator is making lower lows while price is making higher lows (Divergence). Currently is right in the middle of value which indicates if earnings come out of line we could see a move into a new distribution. The weekly downtrendline has been broken but since price has moved back in but on lower volume. On the lower timeframes we are in a uptrend, but the recent retracement looks strong but overdone. R3 660.00 R2 Weekly downtrend line R1 Daily downtrend line Current 592.80 S1 590.20 S2 558.00 S3 541.86 S4 489.52
LSE:HSBA
by RajDhall
Shell (RDSA LN)This Co. has has a interesting time in recent months, the will they wont they OPEC saga has made energy based shares volatile. The most recent rhetoric from today has been from Saudi Arabia who stated that they considered scrapping output cuts if Iran refuse to join in. Last week API and DOE crude oil inventories reported a large build which doesn't bode well for the stock price. In regards to the chart the long term trend is bearish (D1) but more recently share price retraced after the output cut was announced. On the H1 chart price has made a lower high and the previous wave low has just been broken at the 2026 area which could confirm a change in trend. In regards to value we are at the bottom of the recent value range but could break into the lower mean price range between 1980 and 1900. R5 Downward trendline R4 2125.30 R3 2093.84 R2 Internal downtrend line R1 2026.62 Current 2019.00 S1 1956.17 S2 1940.00 S3 Upward trendline S4 1929.80
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by RajDhall