Tesco

Worth a short @ 180p. Stop 185p. Target 155p.
Capped by resistance trendline.
uk.advfn.com/p.php?pid=chartscreenshotsh...x9Uc3Tn%2Fmd8Dsmc%3D

Regards,
Trendfriend.

Looks like its in this falling channel, and this is just a bounce of the bottom of the channel, unless it can break the trendline & moving ave's any rallies will get sold into...
Regards
Trendfriend.

Possible island formation.

who would have thought tesco would get this battered..lol..
just goes to show that no share is safe , short term trading is the easier options as less likely to get attached.

This is well on it's way down.
Retested important 150p level a few times, and failed.
Note how it fails at the 20 day sma.
anyone looking to short now, best place is on the touch of the 20 day sma, with tight stops.
This is heading sub 100p imho. mid term
Regards,
Trendfriend.

Thinking of going short here, its broken important support @ 155p
You can see how attempts for receovery are capped by overhead down trendline
on the daily the RSI has broken down....this has two possible channels in play. targets are around the 80/100p area.
Waiting to see if it recovers or re-test 155p later today before going in...
regards,
Trendfriend.