Marks & Spencer

WaveSurfer wrote: J - should it close abv 432 > then 454 will be key to watch... a break abv then your target of 672 becomes very much closer to reality.

below will show you why.....54

dl.dropboxusercontent.com/u/40497882/MandS_weekly.JPG

rgds WS

looking at your chart you could see the massive head and shoulders from the past on this share and see how it pan out perfectly. This came right at the top of the trend

J - should it close abv 432 > then 454 will be key to watch... a break abv then your target of 672 becomes very much closer to reality.

below will show you why.....54

dl.dropboxusercontent.com/u/40497882/MandS_weekly.JPG




rgds WS

MKS is very close to the 432p level now. You can see that level's importance on this weekly chart:



dl.dropboxusercontent.com/u/20815047/MKSweekly13_05_13.gif

The ascending triangle target on a breakout would be 672p where there is natural resistance. Obviously it would take ages to get there and there's the gap at 518p to deal with but the RSI looks like it's breaking out...

I'll wait for a close above 432p and then look to enter long on a backtest of that level.

This broke out of the trading range . The trading range is 50 points long so a target of 450.
The first hurdle is below that level at 432. This should be the first target as its strong resistance.
Another one from the interesting chart section(15thapril)

took a small position yesterday from the 1hr chart, 400~ looks to be a hurdle though

Bull Pennant
Long @ 395
SL below the horizontal support line @ 384