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…
For the last several posts I’ve been talking about entering and managing trades. I looked back at what we could have traded on a fairly random stock from the LSE, Daejan Holdings plc (DJAN). I looked at how we could have traded it aggressively but with a tight control on risk over the last few…
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…
The Australian economy has been hit hard by a global decline in the demand for commodities, a fierce currency war between major central banks, and the false prospects of interest rate hikes in the US. Reflecting these deteriorating conditions, the Aussie declined from 1.10 against the US dollar in 2011 to 0.70 in 2015. But,…
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…
Over the last few posts I’ve talked about entering and exiting trades and started on a worked example in the last post. It’s an aggressive trading stance but with tight risk management, which may sound a contradiction in terms, but it’s not. So continuing directly from there… Assuming we closed the position, and I’ve marked…
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…
Over the last two posts I’ve focussed on how entering and exiting/managing trades is the part of the trade that’s most fraught with danger. I compared it to take-off and landing in an aeroplane, which is when most aircraft accidents happen. In the first part I looked at entering trades and in the second about…
