Last week I was talking about LSE, WMH and WSH. WSH jumped out nicely on Friday with 4% gains. LSE did more or less the same thing, and WMH is just consolidating. These aren’t big stocks, and I would be hesitant to trade them – but I’m trying to convince myself that there are still profit opportunities in the FTSE.
Anyway, keep an eye on these this week. I haven’t done a CB in yonks, but oh well!
LAND (Land Secs)
I’m negative about this stock, don’t like the divergence as it reaches a prior support and new resistance for the third time. The 3rd attempt scenario is the only thing really going for it here I think. 1390 is the key value here, and a rejection of this could easily being back 1150.
YELL (Yell Group)
I like YELL, but only as far as 135 before it re-tests the bottom, or 110 if it clears that first. I like the MA cross and the distance from the 200 (the blue line is the 100). Realistically, the only position I’m looking at with YELL is shorting it as it backs away from 135.
Doesn’t get much easier than this. Cup and handle break last week on this one, and I’m looking firstly for a 100EMA break, and then a surge past horizontal resistance at the nice round number of 500 for entry with a tight stop circa 495.
Really need the trendline, 100EMA and resistance break on this one before entry, and I figure they will all come on one rally day this week. If it fails 500, then expect a quite fast pullback. 300 is too obvious there, maybe 400 or 450. This is ripe for both a long and a short really, and the added bonus of the 500 mark will be fuel to our position fire. Tight stops and nice profits please, medium target 575, longer target 650.
The other stock I am tracking is Logica (LOG?), which has broken 130. I expect this to re-test 150 – but beware the retrace to 130 somewhere in the mix. It is nicely above all the moving averages, and a pullback would be an excellent opportunity given the short distance between the 200EMA and the 130 support. I’ll shove the chart up a bit later, I’ve got stuff to do.
I am also watching WMH, LSE and WSH this week too, but very passively.