[isatrader]

UK stocks for the watchlist from Friday's scans - SREI.L

   

On the short side - SPO.L, TEF.L, MPI.L

           

[isatrader]

Attached is the Relative performance tables for the UK FTSE 350 Sectors.

To see the individual stocks in each sector go to: http://www.londonstockexchange.com/excha...r=&page=10 and use the drop down menu.

FTSE 350 Sectors - Ordered by Overall RS Score

   

FTSE 350 Sectors - Ordered by Weekly Change

   

FTSE 350 Sectors - Ordered by Monthly Change

   

[isatrader]

Attached is the Relative performance tables for the UK FTSE 350 Sectors.

To see the individual stocks in each sector go to: http://www.londonstockexchange.com/excha...r=&page=10 and use the drop down menu.

FTSE 350 Sectors - Ordered by Overall RS Score

   

FTSE 350 Sectors - Ordered by Weekly Change

   

FTSE 350 Sectors - Ordered by Monthly Change

   

[isatrader]

Here's a roundup of this weeks stocks that were highlighted in the UK watchlist thread in the subscriber section each day during the week, and a few of the charts at the end of the week.

Tuesday 22nd

Long watchlist - RDI.L, ZTF.L

   


Wednesday 23rd

Long watchlist - RTC.L, ACM.L, ANR.L (Stage 1B)

   

Short watchlist - BWNG.L (Stage 3)

   


Thursday 24th

Long watchlist - CEY.L, MOIL.L, TSTL.L, SND.L

       


Short watchlist - WSG.L, MLIN.L, SEPU.L, LSL.L, THAL.L

               


Friday 25th

Long watchlist - SREI.L

   


Short watchlist - SPO.L, TEF.L, MPI.L

   

[Tryst]

Isatrader, with MOIL, what is your staged analysis take on this one? Is it still in stage 1 until it sticks a weekly landing above your 2nd resistance line? So a close above this resistance would be bullish tomorrow...as it starts a stage 2A?

In my opinion it broke out into Stage 2A at the beginning of the year on the weekly close above the lower trendline that I marked on the chart, as it also broke above it's relative performance zero line, the 30 week MA went flat, and it had a small volume pickup - although, not enough to meet the methods requirements for an entry, and it was still below a lot of resistance, which has contributed to it's volatile Stage 2 so far. Also it was a very early breakout.

So I'd now put it at it's second continuation point. But if it can clear the trendline from the 2013 swing high marked and see an increase in volume, then it will be in a much better position to potentially continue its advance.

The oil and gas producers sector is one of no trend, so would you still consider a trade in that case?

Re. the oil and gas producers you can see that some stocks are in bear markets while others the path of least resistance is higher, which explains the sectors lack of primary trend.

The Oil and Gas Producers chart (NMX0530) is in a very broad Stage 1 range, so although not the strongest sector, it's also not the weakest, as it currently resides 19th in the overall relative performance rankings out of 39. And hence only stocks with the very best A+ technical patterns in the group would be tradable imo.

Personally, I'd say MOIL.L has a B or C grade technical pattern currently, as it only has a small base and hardly any volume increase since Stage 2 began, and it's not clear what that volume surge in March was.

I agree, the volume was something that I was just going to comment on. It looks like it was more volume on the decline down than there is at the base/bottom it has formed. If you look at some of the Precious metals and industrial metals miners which are forming a bottom, the volumes are quite high (possibly accumulation).

Looking at the daily of MOIL it shows some technical patterns. The first break of resistance gapped up above resistance (Bullish) but it formed a balance area here and then gapped down below support and the price then moved down to touch the 30 week MA before making its next leg up - the rising 30 week MA means it made a higher low. indicative of a highly likelihood of a change in trend in this instance.

   

A question: In stage analysis, re. support, what is the general rule of thumb? Are horizontal support lines the first lines of support with the 10 week MA being the next, followed by the 30 week MA, with the 40 week being the last chance saloon for support in stage 2, possible stage 3?

[isatrader]

A question: In stage analysis, re. support, what is the general rule of thumb? Are horizontal support lines the first lines of support with the 10 week MA being the next, followed by the 30 week MA, with the 40 week being the last chance saloon for support in stage 2, possible stage 3?

There are no specific rules from the book on this other than horizontal trend lines with multiple touch points are more significant than angled trend lines etc. As for the various moving averages, their support and resistance strength is debatable as some people say they have no significance and others say they they do have significance because of the numerous traders that watch them and like to buy around them.

So if you go with the theory that some traders like to buy around the major moving averages, then they will offer some form of support. But imo, it's definitely secondary to any previous price action support like previous swing highs and lows, especially ones that were tested multiple times before they broke.

The order with which you've put them is logical, and yes, generally if a stock is below a rising or flattening 30 week MA and then testing the rising 200 day MA, it very likely to be in Stage 3.

[isatrader]

Attached are UK stocks for the watchlist from Monday's scans - MCR.L, RXP.L, PIM.L, FDI.L (Stage 1)

               

For the short watchlist - WPP.L (Stage 3), ALU.L (Stage 3B), CRST.L (Stage 3)

           

[isatrader]

Here's today's UK stocks for the watchlist - COB.L, HAIK.L, CTG.L

           

For the short watchlist - MML.L, IOM.L, SLN.L