Persimmon

This has an inverted head and shoulders formation which is massive so i have shown it on the monthly chart so as you can see it.


This also has cup and handle formation.


If this can finish the day above 1538 then Target for breakout will be around 2100 area. possible 30% rise.
This is the longer term target.

This looks like a good house builder to invest in for longer term based on technicals and also the fact that labour is planning on a massive house building plan. I dont know the fundamentals for this so you need to do your own research .

Back on the share analysis again, been off for ages, concentrating on the house.

Persimmon.

When taking fibs, are we taking fibs from 2020 covid low, or the 2009 low?

It's only that PSN has already gone through the 61.8% fib from 2020 low, meaning I believe (usually) a full retracement, targeting around 1550.

However, if we apply that to the DOW, 61.8% fib, the lows would be:

61.8% fib from 2020 low, DOW target 26,500.
61.8% fib from 2009 low, DOW target 18,500.

18,500 would be some target, but with all this talk of Recession, perhaps the 50% retracement around 27,500(covid low) is a more realistic target.

The 2020 covid low, tied in very well with the 2009 50% fib retracement, as attached chart.