XEL 123 Low

It hovered around a range 100p for ages. No news gradually brought it down and down but might expect it to go back while awaiting news in more positive light. AGM coming up too. Like to know the chartist position.

Got out at 87p. Made a nice profit but beginning to think this has more legs based on news.
Remo do you have chart with supports and resistance levels handy?

I seem to recall there are quite a few in the 90's and low 100's, but if you can confirm the major ones I'd be very grateful. I remember 89, 92 and 96/97 then around 101?

Thanks

Hi richard
about 89 as thats resistance

SirRichardBunson wrote: What initial target are you aiming for please Remo, is it the trend line 83.75ish or the 90p 123 wave calculation.

What initial target are you aiming for please Remo, is it the trend line 83.75ish or the 90p 123 wave calculation.

If your trading this share then generally you would go long on the breakout of the 123 low.
Im long on this and my stop is below 61.
But a finish is whats needed to confirm the trade but by waiting you wont get the original price and your risk reward would be different.
So it all boila down to your risk.


dl.dropboxusercontent.com/u/4899609/xel6thmay2014.png

In my opinion Count the high of today has triggered the share to the watch list and not the trade.It has to close above 75.50 to confirm as I've seen this to many times so a tad of patience and lets see where this is going into the close, we do have a target of 90p so plenty of points to be had.