TESCO

Looks like a false breakout few days ago and gapped down today, now at the bottom of trading range.

tintin wrote: Hi folks, would the last 3 months chart count as a cup n handle formation?. Bounced up off the 375.5p today. Onwards n upwards hopefully ( 413p target if it breaks 390p ?). all comments welcome, even if they are to tell me I'm well off the Mark. Cheers

Hi tintin
That formation has gone now as the price went sideways for a long while. If it was a true cup and handle then it would look like one still..The look has gone now..
but if you look on the weekly chart or monthly then you can see a massive one This one spans nearly 2 years


dl.dropboxusercontent.com/u/4899609/tesco20thw.png

hi jackozy
This is starting to look good again...This back tested the breakout point today.
hopefully will move soon


dl.dropboxusercontent.com/u/4899609/tesco20thsept.png

Hi folks, would the last 3 months chart count as a cup n handle formation?. Bounced up off the 375.5p today. Onwards n upwards hopefully ( 413p target if it breaks 390p ?). all comments welcome, even if they are to tell me I'm well off the Mark. Cheers

You're welcome remo - sorry I've been so quiet on the posting front in recent months (you know why!). Hopefully I'll be able to get back to it soon...

TSCO did close on a breakout so I'm now long on this. What I like about it is that the previous hits at 390p closed the big gap down from 21/1/12 so if it gets there this time there's an increased chance of it breaking out of that too and then it could really move. I haven't looked at targets beyond 390p yet though.

Thanks for all your and Ronnie's efforts!

Jackozy wrote: Keep an eye out for this closing above 375.8p. It's been in a 14p trading range and a break upwards would target the 390p resistance nicely. Obviously, if it breaks down then the target would be c. 347p:

dl.dropboxusercontent.com/u/20815047/FTS...SCOdaily18_09_13.png

Hi Jackozy
Thanks for the heads up mate. Thats the whole point of chartsview and if everyone was able to show great set ups it would make all our lives easier as then we would have more eyes on the market. That is the primary reason ive set up chartsview for. Its hard when one or 2 people are looking all the time. Its easier when theres a whole army
Thanks mate.