Approaching resistance for possible 123 low breakout, one to watch..

Still making lower lows, lower highs so think this has further to go down yet. Sold to sit on the side lines for a while.

Hi Count,

chart looks interesting to me. Gap down, potential double bottom, very good volume on the fall and positive MACD divergence. My reservation is that we didn't reach RSI support.

A rise above Friday's close today gives us a thrusting type pattern and a doji gives a doji star reversal pattern.

Some volume on any rise would be welcome and RSI might catch a further fall.

uk.advfn.com/p.php?pid=chartscreenshotsh...LzMQ=&symbol=A%5EAPT

GL
F4T

Thanks TF,

I'm being reasonably cautious and have stop placed at 180. I may have entered bit prematurely and could take a 6% hit should this fall through support, but I'm hoping for a bounce soon here. I'll be watching it closely though and may bail sooner if things not looking that great in the next couple of trading days.

ATB

Count

Careful here, if 191 goes, this could well make a new leg lower.
Watch this closely imho.
uk.advfn.com/p.php?pid=chartscreenshotsh...symbol=DJI%5EI%5CDJI

Regards,
Trendfriend.

For what it's worth I think now is a great time to be buying stocks.

Don't quote me on that though.....

I bought in this morning at 195p on the dip, Ian hoping it bottomed and we get a nice bounce. RSI dropped to 26.
screencast.com/t/iRQkkt96Ougy

To close the circle, I did take an entry here but bailed yesterday at b/e after the dip. Phew...

uk.advfn.com/p.php?pid=chartscreenshotsh...AA%3D&symbol=A%5EAPT

This looks good today. At suppot, inverted hammer yesterday, nice volume on the fall and two small gaps at 228/229 and 236/237 to close.

Only downside is that RSI looks like it wants a bottom on the 207 area (black trendline).

I expect a nice bounce in US indices today to help things along maybe.

F4T

Glad I held my nerve on the pull back of last couple of days, nice rise back up today.

screencast.com/t/5W64dUiN

Hi Count,

Supports/resistance levels.
246.25
240.5
234.5
228.5
216
209.5
205.5
195.75
190
this also has a couple gaps, a small one @236/240p and a massive one @ 270/294p
uk.advfn.com/p.php?pid=chartscreenshotsh...c%3D&symbol=L%5EOPHR

This is in a uptrend now, and the momentum is strong. i think the 270p gap is possible imho, depending on how long your happy to hold, but i'm going to be flexible around the 245p level you mentioned.
Regards,
Trendfriend.

Hi TF and Stevo,
nice one!
do you think this is good for at least another 6-7% to around 244?

Nice
Textbook breakout!
uk.advfn.com/p.php?pid=chartscreenshotsh...cIs=&symbol=L%5EOPHR

yep, spot on Stevo.

Normally its better to wait for close above trendlines, however i will go long @ 221p, and add to my position if we close above 221p

Regards,
Trendfriend.

Thanks for the charts TF, great help. It really needs to break above that downtrend line at the same time as the 123 Low, both more or less coincide at these levels.

This is trying to break out.

A break of 221p, will be 1,2,3 low and a break of the long term down trend.
So a break above 221p, could give this a nice rise.
One to keep a eye on for now.

uk.advfn.com/p.php?pid=chartscreenshotsh...XVQ=&symbol=L%5EOPHR

This is long term down trendline
uk.advfn.com/p.php?pid=chartscreenshotsh...uks=&symbol=L%5EOPHR
Regards,
Trendfriend.

This is well spotted by stevo, and a very interesting Chart.

This has been in a down trend for some time, from around 600p
It needs to break 4 areas of resistance, however they are all close together, and if ones goes the rest are likely to follow.

1. the down trendline, this is a main down trendline from 600p, if it breaks this, it will be break the down trend it has been stuck in for a while now. This is at 222p (falling daily)

2.the 50 day ema, @ around 217p

3. the 1, 2, 3 low formation which is at 220p, as pointed out by stevo.

4. Finally the RSI is at resistance and needs to break out.

Thanks for sharing this Stevo, i will be keeping an eye out here, and intend to trade if it breaks above 1, 2, 3 low and the trendline, around the 222p level.
This is the link
uk.advfn.com/p.php?pid=chartscreenshotsh...o%3D&symbol=L%5EOPHR

ATB,
Regards,
Trendfriend.

Possible 1-2-3 Low coming up after a nice bounce of lows

screencast.com/t/ZSplgzVUNC