Tesco for 14/11/2019

#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!

Other snowmen are available.
FUTURES

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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