Easyjet - EZJ

This has got a 123 low break out now
In profit from earlier entry already so should be a nice free trade


dl.dropboxusercontent.com/u/4899609/ezj9thaug2016.png

I just got a buy signal from the bollinger bands scans i did using metastock pro.



dl.dropboxusercontent.com/u/4899609/2016-08-04.png

I think your summary is spot on, this could bounce here, or dump further, possibly quite strongly.

the daily.
shows a failed 1,2,3 low or higher low failure, always bearish and a sign this downtrend is not over.




Monthly.
This looks interseting imho.
First the clear h&s top, but the neckline break(and confirmation of the downtrend) only took at 1325p
So it could be argued, the down trend has just begun.

Major support at £10, and some supports just below, as you pointed, but once (and if off course) they fail, no real major support until 750p, and 646p (200 day ema).
below that the main long term trendline at around 475p.





The saying profit warnimgs come in three's, has some truth to it imho...
www.charles-stanley-direct.co.uk/News_Fe...hird-profit-warning/

So while a well planned long around £10 makes good sense in terms technicals and r/r.

I think we may not have seen the lows here just yet imvho....
Lets see how it goes....

atb, dyor, wdik
Trendfriend

Was just about to write a note on these, so will do so, then read yours TF.




Looks like it's about to blow one way or tuther.

Chart bias is long since we have a falling wedge and three trendlines converging at 1010-1015, which ordinarily would give good support. RSI also supports a bounce.

Multiple horizontal supports at 1000/6, 990 and then 964. All within range.

However we must not disregard events in Munich (on top of all the other nutters running around mainland Europe in recent months causing havoc). These layered knocks on travel confidence could be telling.

EZJ is down 33% since Brexit and are unable to give full year bottom line guidance. Next week might offer a good entry but with risk. Will Brexit risk widen or close as the economic data starts coming in?

A break of 1000 would be dangerous IMO but a gradual mitigation of Brexit risk could make this a great buy.

GL
F4T

Follow up chart, nice trade here, maybe an idea to close around here, and go short again if it breaks below the support.

wdik, dyor
Trendfriend

uk.advfn.com/p.php?pid=chartscreenshotsh...Bx9ukv6h5mjtlVnmQ%3D

looks like a bear flag imho...the huge gap overhead is also indicative of longer term weakness imho...

short at 1117p, absolute stop 1200p above the 20 day ema for now.(will move it lower in due course)

wdik, dyor,
Trendfriend