XEL

This is a weekly chart, you can see there was a test a very long term trendline, and it failed to break aobve it.
uk.advfn.com/p.php?pid=chartscreenshotsh...iM%3D&symbol=L%5EXEL

This is still in bear mode, however it looks like it could break above soon, as there's good support around the 60p level, and it seems selling looks to be exhausted around these levels.

In the short term, the RSI is at support, and it looks like a trendline is forming. So a good area to go long.
Wait for the 50 day at 66p, if being extra safe
uk.advfn.com/p.php?pid=chartscreenshotsh...2+rY=&symbol=L%5EXEL

Regards,
Trendfriend

Approaching 123 low at 69.16 so worth putting on the watch list.


www.screencast.com/t/Tg1jiBz8YZ5p

Hi Remo,

how are you doing. Its been a long time I have not been very active in trading. Not recovered from my losses in rrl and xel. I am thinking to sell all my xel shares and take some money back.
Any idea if it will ever cross £150 from the current price £0.93p.

Many thanks Remo

RG2

Here's the daily chart showing a close below the uptrend support on much higher than normal volume:



dl.dropboxusercontent.com/u/20815047/FTS...XELdaily01_12_13.png

This could drop back as far as 64.75p or even lower now IMHO. GKP did something very similar on the drop from 260p a year or so ago and it's still not managed to regain those levels and hold them. BLVN's another...as is SXX (whose chart looks quite similar from the 30p double top).

Supports are 88.75p, 83p and 64.75p. Resistance is now the old uptrend support which is c. 104p early next week (rising daily).

Hence the importance of waiting for confirmation on close of day.

Closed at 102 so no hammer and, more importantly, closed below uptrend support on decent volume (for XEL) so looks in poor shape now unless it can get back above that trendline quickly.

Best to wait for a new higher low and then a 123-low breakout now imho. It could go a lot lower after today.