#brent #Nasdaq When we last covered #Tesco, we’d a requirement the share price actually close above 244p to fulfill the first criteria for upward fireworks. In an almost spiteful movement, the price closed at 245 in October and since then, nothing but pain in the bread aisle…
Presently trading around the 232p mark, Tesco’ share price looks set on reversal to an initial 223p. In itself, not a particularly threatening concept but if broken, secondary calculates at 207p and should be capable of bonking against the uptrend since 2016. Ideally, this should provoke some sort of rebound. However, it’s worth looking hard at the chart as there are significant dangers should the 207p level break.
Obviously, it breaks a major uptrend but worse, the price achieves a “lower low”, propelling itself into a region where continued reversal to 193 looks very possible. At such a level, we’d need revisit the numbers, thanks to the Big Picture painting some truly dramatic reversal potentials.
Allegedly, the price NOW need only close above 243p to better the immediate downtrend but thanks to moves in October, we’re inclined to widen our parameters, suggesting only above 248p should now make growth to an initial 257 make sense. If exceeded, secondary is a promising (for the long term) 273p.
For now, we suggest it worth keeping an eye on if 207p makes an appearance. At such a level, we’d suspect it shall not prove a turkey!
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:00:35PM |
BRENT |
62.2 |
61 |
60.585 |
59.95 |
62.09 |
62.32 |
62.705 |
63.32 |
61.23 |
Success |
10:03:31PM |
GOLD |
1464.14 |
‘cess | ||||||||
10:06:27PM |
FTSE |
7347.08 |
‘cess | ||||||||
10:08:37PM |
FRANCE |
5909.7 |
Success | ||||||||
10:11:20PM |
GERMANY |
13260.82 |
‘cess | ||||||||
10:19:03PM |
US500 |
3096.97 |
‘cess | ||||||||
10:26:17PM |
DOW |
27808.3 |
‘cess | ||||||||
10:37:03PM |
NASDAQ |
8262.97 |
8215 |
8182.5 |
8145 |
8269 |
8275 |
8296 |
8324 |
8215 |
Shambles |
10:40:10PM |
JAPAN |
23320 |
‘cess |
13/11/2019 FTSE Closed at 7351 points. Change of -0.19%. Total value traded through LSE was: £ 5,342,219,099 a change of -6.91%
12/11/2019 FTSE Closed at 7365 points. Change of 0.5%. Total value traded through LSE was: £ 5,738,598,465 a change of -2.15%
11/11/2019 FTSE Closed at 7328 points. Change of -0.42%. Total value traded through LSE was: £ 5,864,681,253 a change of 22.23%
8/11/2019 FTSE Closed at 7359 points. Change of -0.63%. Total value traded through LSE was: £ 4,798,106,379 a change of -22.57%
7/11/2019 FTSE Closed at 7406 points. Change of 0.14%. Total value traded through LSE was: £ 6,196,615,818 a change of 30.74%
6/11/2019 FTSE Closed at 7396 points. Change of 0.11%. Total value traded through LSE was: £ 4,739,678,595 a change of -23.11%
5/11/2019 FTSE Closed at 7388 points. Change of 0.26%. Total value traded through LSE was: £ 6,164,114,046 a change of 25.79%
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