Ftse100, Dow & Dax all powering ahead atm !!!!--- Buyers are being very selective looking at the risers and fallers and non-movers in the top 100 & 250 !!! Markets looking very short term overbought now ----
Tesco performing very well again ---just to keep my posts on topic !!
Not a fan of Elliot Wave theory or the 5 wave theory ( same thing , no doubt ) ---- or A,B,C or 1.,2,3 etc, etc, etc . Just good old fashioned technicals for me --- I can't make a case for that £1-00 level --- that's not to say it can't or won't happen tho' is it !!! If your Elliot Wave analysis comes up with £1.00 then who knows ??--- Tesco , as we all know, faces immense competition from the other Supermarkets, big & small --- leaving Europe does it no favours either .--- Looking at the Tesco 10 year chart but more importantly the 3 year chart then an easy case can be made for that £1-00 to be seen SOMETIME in the future if it fails to stop the current downtrend !!!-- This is true for any share currently in a downtrend isn't it , that's obvious ( anything currently above £1-00 that is in case any smart alecs are ready to pounce on me !!! ) ---- Best i can do is watch that 139p ish low and look to it staying above it !!!--- Going forward that 173p is still the target to get above and hold !!!--- Apart from that my simple trading brain says my simple technicals are looking slightly more positive --- The Fundamentals for Tesco aren't good either still but the risk/reward for many investors and analysts may be about to turn the corner ----- who knows !!!
I hope luckystrike isn't laughing TOO much as he reads this post (lol) ---
My old buddy luckystrike aka Itsall' aka Joeysheedy , aka a thousand more ID's is no longer with us ---- god rest his soul !!! No, i don't mean he's dead ----- just Banned again !!!--- He'll be watching this board and my posts atm. i've no doubt ---- altho' i suspect he would not admit to it and would say he's got better things to do now with his time !!!-- He is, without question , a very knowledgeable and canny trader /investor BUT simply cannot stop his prolific posting when-ever he comes back ---- I look forward to yet another re-incarnation very soon !!!!--- Good Luck luckystrike !!!---
Hi everyone I'ts nice to see that others have a £1 in as the bottom.It was my long term bottom as well.The problem is that i saw an analysis by someone that suggested Elliott-wise that the bottom was reached at 139.Although i think i can see a possible bull chart,i lack experience of the expanding triangle pattern.I only have a basic knowledge of Chart Analysis/Elliott wave. I have only one or two examples from my chart analysis books in the early eighties,they don't look good Could either you Hottentot,or Strike enlighten me as to what Elliott wave or other technical analysis would explain a fall to £1. Would it possibly be what is termed an A B base?.which just means that for no known reason just one more leg down?.Using Elliott-wave ratios,£1 comes out quite a few times,i just can't at the mo see how the shape of the chart supports this.
Got a better person than me posting on the board again and he has that £1-00 level in his sight as well . Personally , i've never been convinced of that level but we all know what a hard time retailers are in for , so who knows ?? -- Agree with you about 147/145 p ( as i posted some time back ) --- and yes below 139p should set it up nicely for further falls !!!--
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