Market Direction: Cable above 50 Day Line Targets May Peak BP (BP.): Above 370p Targets 420p Considering how volatile the stock market has been in recent weeks, as well as the price of Crude Oil, it is interesting how the share price of BP remains a relatively flat affair. This can be seen on the…
Market Direction: Gold, Neckline Support below $1,250 Barratt Developments (BDEV): December Resistance Target It would appear that there is plenty to celebrate at the moment as far as the recent charting action at Barratt Developments is concerned. This is said in the wake of last month’s as yet unfilled gap to the upside, after a…
Market Direction: Euro/Sterling Support towards 200 Day Line 3i Group (III): 200 Day Line Leads to 595p While the stock market may be on the back foot at the moment, it can be seen on the daily chart of 3i that we have been looking at a surprisingly robust picture over recent weeks. This point…
Market Direction: Dow, Key 17,500 Support under Threat Barclays (BARC): Ultra Bullish Failed Gap Fill It would appear that on a fundamental front we have the challenger banks and the challenged banks of which Barclays is apparently in the forefront. But it would appear that from a charting perspective the gloom and doom we have…
Market Direction: Euro/Dollar Initial 50 Day Line Support at $1.13 Ashtead Group (AHT): Above 50 Day Line Targets 1,000p It would appear that as far as shares of Ashtead Group are concerned, we are looking at a situation where there has been a clear improvement in the technical profile over the recent past. This has…
Market Direction: Dow Nears 17,500 Support BAT (BATS): 4,500p Technical Target It would appear it is onwards and upwards as far as the price action is concerned for BAT, given the setup that can be seen on the daily chart. What helps in particular is the way that the trend is backed by a rising…
Market Direction: FTSE 100 Key Support Line at 6,080 ARM (ARM): Initial April Bear Trap ARM Holdings certainly has been something of a standard bearer for the UK tech sector over recent years, especially given the issues its smaller cousin Imagination Technologies has been suffering of late. The present position on the daily chart of…
Market Direction: Gold, Break of 10 Day Line at $1,278 Required BP (BP.): December Price Channel Targets 415p What is interesting about the daily chart configuration of BP is the way that despite the massive volatility in the Crude Oil price, the progression here in recent months has been relatively consistent. This is because most…
Market Direction: Sterling/Dollar Accumulation Zone towards $1.44 Antofagasta (ANTO): Likely Bear Trap It has not exactly been a pleasant month to date for many holding mining stocks, and some of the gloss of the early 2016 revival has come off many plays. We also have to cope with the “Sell in May” issue as well.…
Market Direction: Dollar/Yen Rebound towards 111 Barclays (BARC): Possible Support Zone The current technical position on the daily chart of Barclays is interesting in the sense that we are on something of a knife edge regarding the technicals. This is said on the basis that while there is a higher low for the start of…
