Irrespective of the Mail, the outlook is bullish and I have a target of 790p based on Fibonacci extension. However, it has to convincingly break 660p before it heads higher. This week is the 5th test of that on a weekly time-frame, so it looks ready to blow.
"The main purpose of the stock market is to make fools of as many men as possible." - Bernard Baruch
300p is a round number which the market likes. However, it was also resistance in 2014 and 2015. RBS is bullish at the moment, but there could be a few tests of 300 first before it breaks though. It's also getting much closer to its 200 EMA, which is 305p, so that represents another barrier for it to break. It can only do this with good fundamental performance.
No one is talking about Rotork, but that ends today. It's just completed a head and shoulders pattern, and this week has broken out from the neckline. That's bullish. DYOR https://uk.tradingview.com/i/1gnP2d1g/
It has 5p resistance to beat, but the fundamentals are good enough to help it on its way. Also it has ranged since the beginning of last year, so now is the fundamental reason for a push higher. Next target (based on Fibonacci) is an unspectacular 5p, then 6p.
Reason for price rise in EZJ today: Thomson Reuters: Today Lufthansa CEO has said Alitalia will have to restructure before it's interested in a takeover. "While recognising the valuable measures that have been undertaken to date... we strongly believe that there remains a considerable amount of work to be achieved before Lufthansa would be in the position to enter comprehensively into the next phase of the process," Spohr said in the letter to Italian Industry Minister Carlo Calenda. My opinion: Restructuring of European airline competitors is bullish for EasyJet.
Next stop 72p, then 80p (based on Fibonacci extensions)
Looks like Trading Central is bullish on EZJ, but as long as 1454 holds. https://charts.tradingcentral.com/charts/ezjgbp180106103302.gif
Bearish flag forming on CNA: https://uk.tradingview.com/chart/CNA/m6zRFTuk-Bearish-flag-forming-on-CNA/ No upturn just yet.
My take on CNA is a flag is forming, which is bearish: https://uk.tradingview.com/i/m6zRFTuk/ PS: What gap are you referring to as the gap on the daily chart was 160p on 23rd Nov, and hasn't been filled yet.
Looks like it will go upward this time after only the second attempt. It broke 270 resistance in September last year, pulled back and is now on its way upward. GLA and DYOR
Since Nov 2016 the market has said if you reach between 180-189 we'll sell off. Is that point nearing an end after its 5th test of resistance today?
I'm OK with the minor "slings and arrows" of the bulletin board. So no offence taken. If I can get a thoughtful 2 way conversation about a share, I'm happy. PS: On joining the party: I don't think it's too late either as IOF has been forming a bottom since Nov 2015. A reasonable short term target is 27p.
Been in a bear market since 2008!! Caveat Emptor.