WPP

There's a significant resistance at 1120 from 2 May 2000 (lol) which it reversed off today.

I'd go long at 1096 from the recent high with a tight stop, or short with a stop above 1120p. There are multiple bearish RSI divs and a bearish OBV div too. Plus there looks to be a clear 5 waves up from the June 2012 low:



dl.dropboxusercontent.com/u/20815047/WPPdaily09_05_13.gif

Given this dilemma, perhaps it's best to wait for a clearer signal? Sorry to confuse matters!

Shotry wrote: screencast.com/t/ThuiwhvOq

Set a limit buy on this according to the above chart. Would welcome views from others.

Retesting breakout/gap support.

just saw your chart...1085 is a good area for stops

its testing the breakout point so thats the best level to go long with tight stops.
Id put the stops below the gap (1094) so maybe 1089..so a small stoploss.

screencast.com/t/ThuiwhvOq

Set a limit buy on this according to the above chart. Would welcome views from others.

Retesting breakout/gap support.

This ones broken out of the trading range today.
if this can stay above 1097 then that will be bullish.
Target for trading range break is roughly 80 points.so 1180ish. My stops are below 1073
so good risk to reward.

I have to agree deadcatb0unce. If, and it's a big IF, my labeling is correct, I suspect this could well be a wave iii of 3 and as such I expect this to make at least 1255. Long on a break of 1100.