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ShareCast News - Technical Analysis
TA: Tesco: Are markets missing something?
Tesco has outperformed in recent weeks but a divergence may have appeared between what analysts are forecasting and what market prices seems to show investors as increasingly discounting, namely a bounce-back in the company“s operating performance.[4 Jan '13]
TA: BARCLAYS: Perfect pull-back to resistance
On the weekly chart we can observe an interesting bullish move up having taken place since late October. What followed was a simple yet perfect pull-back to the resistance level that was previously support. We can also see the profit taking which ensued as the bank's shares moved closer to resistance. We must now keep in mind that a breakout above resistance at £2.19 (on closing prices and if by a sufficient margin) would signal the start of a new bullish move higher. A strong close above this level would take the stock to around £2.75.[7 Dec '11]
The loss of support at 5,200 could see the FTSE 100 fall to 4,870
By far the most interesting aspect of the top shares“ price chart is how last October“s highs saw it stop at exactly the level needed so as for it to have drawn a perfect 'pull-back“ towards the lows which the benchmark hit last March (now resistance).[21 Nov '11]
TA: Dow Jones: Starting the engine?
We will be closely monitoring the three major Wall Street stock indices because they could soon initiate a new leg up in search of resistance at the year's highs. In fact, the Nasdaq-100 seems to want to fire the starting gun already. Thus, and in broad brush-strokes, when we look at charts what we see is a bullish impulse on the Dow Jones followed by a correction in the form of a triangular pattern. In theory, the price should break out to the upside with a target of 12,600 points (nearest bearish trend line) followed by the annual highs above that.[16 Nov '11]
TA: DAX XETRA: Open long positions with a stop-loss below 5,700 points
The chart for the German benchmark equity index shows a very clear "head and shoulders" pattern is in the process of forming, perhaps too obvious for it to be completely carried out. In any case, what is important is that in spite of at one point having moved below support at 5,740 points it is still trading above said level. Thus, prices need to close below the 5,700 point mark for the pattern to be completed. The next likely move is either a rebound towards 6,400 points or, if not, then a move lower towards 5,400 points.[11 Nov '11]
TA: DOW JONES INDUSTRIAL: Fighting against resistance at 11,900 points
Analysts at Digital Look are commenting this afternoon that, "the technical outlook for the U.S index continues to make us optimistic, although we have an imminent level of resistance coming at us at 11,900 points, formerly a support level. Following the rally of the last few weeks it is normal for the euphoria to die down. In any case, and as long as the index does not close below support at 11,300 points, we believe that the 11,900 level will eventually be surpassed.[27 Oct '11]
TA: GOLD: Moving to the 61.8% retracement?
Technical analysts at Digital Look are this morning commenting that, "we have been buyers with a stop-loss order below $1,600. In recent sessions, we have seen a strong rebound that took the precious metal above resistance levels at $1,694 and $1,706 respectively. At this point, we we would not rule out a small short-term breather before bouncing back towards $1,770 at the least (which would be the 61.8% Fibonacci retracement of the entire bearish move). As a result, we remain long gold."[27 Oct '11]
TA: FTSE 100 at important short-term technical resistance level
Technical analysts at Digital Look are this afternoon pointing out that, "Britain“s equity benchmark is now hitting resistance at 5,450. Nonetheless, we will wait until we have confirmation of a break on weekly charts. Should that come to pass then it should serve to signal a new "leg-up" in stocks, which ought to take it to the 5,725 point mark. Also worth pointing out, the above would simply constitute the 'typical' pull-back to the support area which it surrendered back in August.[12 Oct '11]
TA: S&P 500 bouncing off of technical support levels?
Technical analysts at Digital Look pointed out last Friday that, "Without a doubt the week that is coming to an end could turn out to be a 'key' one with a view to the next few weeks and months. In fact, the world“s main equity benchmark never confirmed a close below technical support at 1,100 points, or not at least by a sufficient margin. Thus, and despite having breached it on Tuesday and having reached a low at 1,074.77 points, it was able to close up strongly, at 1,123.[10 Oct '11]
TA: EUR/USD: Highly erratic moves
Technical analysts at Digital Look were commenting this afternoon that, "There are times in the markets when certain securities do not behave in an orderly fashion whatsoever and frequently offer false signals. This is one of those times. In theory, it would be normal for the EUR/USD to try to test the support area at around the 1.29 level. However, it might not happen because this week's "hammer" formation signals the likelihood of a strong bullish reversal and the start of a rebound. Furthermore, a move towards 1.38 would fit perfectly within the context of a 'rally' inside a clear short-term bearish trend. Due to several mixed signals we prefer to wait for the pattern to clear up a bit."[7 Oct '11]
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