Zak Mir on the FTSE100 – A Classic Bear Trap?

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Zak Mir

FTSE100 Analysis

  • Classic rising 200 day moving average bear trap rebound buy signal so far from below 6,400.
  • One of the relatively rare/solid buy signals one would expect to see over a 12 month period for a stock or market.
  • November price channel floor at 6,400 – above which targets towards 6,800 initial 4-6 week timeframe scenario.
  • Quiet action without excessive volatility means that the risk is around 50 -70 points with only an end of day close back below the 200 day moving average or October 6,386 intraday floor cancelling the upside scenario.

 

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