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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.
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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
R
by RajDhall
Barclays (BARC LN)Barclays (BARC LN) – recently Co.’s shares have taken a hit after Trump gains ground in the election polls. Yesterday shares received a lift after UK courts decided that MP’s must be involved in the invoking of article 50. This led financial names and GBP to rally as a soft Brexit may be the outcome. Taking a look at the chart we are in a technical downtrend on the D1, but on the lover timeframes we are clearly making higher highs and higher lows. In terms of the RSI on the D1 chart we are still in positive territory, albeit mildly so. On the hourly chart we are seeing a bullish failure swing develop which suggests we are slightly stretched short term. We are slightly above the relative value area on the H1 chart which does suggest after a mild retracement we could see prices move back to the 170-172 area, but the 180.53 support zone would confirm a break lower as the first lower high and lower low would be confirmed. R3 192.99 R2 downtrend line above current price R1 187.065 Current 180.65 S1 179.73 S2 177.04 S3 174.81 S4 161.09
LSE:BARCShort
by RajDhall
FTSE 100 CashThis market is still in a technical uptrend although signs are beginning to emerge that we may be falling off, but the confirmation will come if the 6700 level is broken to the downside. In terms of indicators the RSI has moved into bearish territory but is producing a bullish failure swing. On the monthly timeframe the candlestick action is very bearish but despite this the daily chart is showing signs of exhaustion (which means we may see a retracement). In terms of fundamentals today we saw a court ruling that MP's will have a say on invoking article 50 before it is triggered which was bullish for GBP but bearish for large caps like GSK and mining names, this is due to their profits being denominated in USD. Importers like Dixons Charphone and companies that need a stong GBP i.e. Ryanair this was positive but these companies make up much less of the FTSE100. R2 7098 R1 6940 Current 6809 S1 6780 S2 6704 S3 Downward internal trendline starting 15th Aug
TVC:UKX
by RajDhall