PS I added a count which is on the link.

Worth putting TSCO on your watchlists IMHO. Just made a new low at the trendline and price support on a bullish RSI divergence after what looks a clear 5 waves down:



dl.dropboxusercontent.com/u/20815047/FTS...SCOdaily15_01_14.png

Could make a higher low and then form a possible 123-low move or buy a break of 341/3p level after an RSI breakout. DYOR etc.

bounced off trend-line and gapped up today, looks like an island formation.


dl.dropboxusercontent.com/u/4899609/TSCO041213.png

Yep - I got stopped out at 374p yesterday. Praise be for stops!! )

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

tintin wrote:

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:
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.

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