TESCO

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

This ones from the share tips for this week as well
This hit the gap resistance perfectly and reversed a couple of days ago.
sorry for the delay in posting all these...been busy with the website.


dl.dropboxusercontent.com/u/4899609/tesco26thjuly.png

I only put the upper trend line on the chart to highlight the triangle. Personally I don't put much store by trend lines unless they happen to coincide with other indicators and they touch prices in at least three instances. I am much more interested in fib percentages and wave counts coupled with RSI divergences as can be shown from this more close-up chart....

Why do you draw your descending trendline the way you do? If you draw it across the peaks, you get a logical target of around 409. It also looks as though we currently have an expanding triangle formation with a nearly flat top around 387/388. The SP has just made it's 3rd attempt at that resistance level and for the moment looks like it has failed. Expanding triangles could break either way, but those 3 strikes against a flat edge look like this one may have a bias to the upside? Might be worth watching what the SP does between 363/366 and going long/short around there depending on whether it breaks down or not

screencast.com/t/sSX9anEKX

This is looking very interesting.

My guess is a triangle with another down move to around the 300 mark..... but it could also be the start of an impulsive wave up