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SVT/N trade ideas

LSE:SVT possible trend reversal(?) [Part 2]On July 8, I posted an idea suggesting that I could see a possible trend change on LSE:SVT. The closing S.P. on the last trading day (Jul 6) was 2208.0 Since then the S.P. has risen with the last closing S.P. (Jul 13) at 2233.0. The bearish engulfing candlestick (Jul 10) did make me think that maybe I'd been suckered and that the trend change could end early. However the following day (Jul 11) a doji formed which is generally seen as the market being a bit "indecisive" and the next two days are showing a healthy rise in S.P. Now, please forgive me if I do not follow the "standard accepted protocol" when it comes to drawing trendlines. The way I draw trendlines is to try and link as many OPENs together (top trendline) and CLOSEs together (bottom trendline). I deliberately IGNORE the HIGH and LOW prices when drawing trendlines (but not when doing price projections). The reason is that OPEN and CLOSE prices (especially CLOSE prices) are the price that traders are "comfortable" with leaving their money in the market. With that out the way I can say that I think that the overall trend for LSE:SVT has changed to an uptrend and the trend that is forming is best described by Thomas Bulkowski as an "Ascending Broadening Wedge" . It hasn't got the requisite number of candlestick touch points yet to be properly qualified as such but it does appear to be forming that way. With the stochastics showing both %K and %D above 20, I'm currently quite comfortable that the S.P. is most likely to rise in the near future. The target level I think to be looking for are (still) 2305, 2473 and 2577 with the caveat that there will be a drop in the S.P. on 21 Jul as that' when a final dividend is paid. 21 Jul may also be the date when the current trend setup is most likely to change. I'm fully aware that I could need new lenses in my glasses or that I'm looking at this in the wrong way. Any comments, suggestions or advice are gratefully accepted. All the best, be lucky! ========== Bulkowski's Ascending Broadening Wedge : thepatternsite.com
LSE:SVTLong
by essuu
LSE:SVT possible trend reversal(?)LSE:SVT has been in a longterm down trend since 9 Jun 2017 taking it from 2534 to a low of 2150. The last 4 trading days looks to show a trend reversal. 1> Downtrend starts 9 Jul 2017, trending with 20 Jul and 27 Jul open prices. 3> The "above trend" bullish doji i'm discounting as a possible early misread of opportunistic investors thinking the SP was ready to pop up s2> 4 Jul 2017 - gravestone doji, a signal of a possible end of trend 3> the 7 Jul candle forms a bullish kicker from 6 Jul candle, a fairly strong signal that the market didn't not like the 6 Jul close price. Taking the downtrend as a whole I think that any price close above 2305 would be a solid confirmation that LSE:SVT is fully into an uptrend. However that does leave about 100p "on the table" if waiting for confirmation. The past few days traded volume has averaged around 1.0 million and the stochastics seem to show that the price has bottomed and is now reversing direction of travel. I would take a %K/%D above 20/20 on the daily chart as the starting whistle. With that in mind, I strongly think that the price for LSE:SVT is likely to increase over the next few days and using fibonacci retrace values I think the target prices to look for are 2305, 2473 and 2577. Just be aware that there is a final dividend payment of 48.9p on 21 Jul and the market will discount the SP by that much on that date.
LSE:SVT
by essuu