RE: UK Stocks - Watchlist and Discussion (Premium)
(2014-05-11, 08:33 PM)pcabc Wrote: A short? SHI.L
It has potential, as it's making a Stage 4A breakdown from a weakening technical pattern, although it's only made a six month top, and hence it's considered an early Stage 4A breakdown, and the top isn't very developed which you can see from the 30 week MA and the 200 day MA only just beginning to flatten out.
It is also in an under performing sector which is support services (NMX2790) which below it's relative performance zero line and is mid range of the FTSE 350 sectors currently, and in Stage 2B- on the sector chart.
So on that alone it looks like a suitable candidate. But the next job you need to do is to look at each individual stock chart in it's sector http://www.londonstockexchange.com/excha...790&page=1 and compare it against them to make sure it's still suitable.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
IND is looking quite nice. Good volume last week. Certain types of traders could be looking for a price target of the last high around Oct 2012, so this could be bid up another 20%.
Isatrader, would you consider that price spike up around Oct 2012 to be a stage one if what is happening now is a Stage 2A? I can't really see a full stage cycle (from 1-4) behind your drawn horizontal resistance line.
(2014-05-11, 09:10 PM)Tryst Wrote: Isatrader, would you consider that price spike up around Oct 2012 to be a stage one if what is happening now is a Stage 2A? I can't really stage a full stage cycle (from 1-4) behind your drawn horizontal resistance line.
It's an awkward one, but I make it Stage 4 during the late summer to autumn 2013, and then the breakout above the declining 30 week MA moved it into Stage 1A, and hence it formed a higher Stage 1 range above it's 30 week MA through to March 2014 when it managed to clear resistance on weak volume and move into Stage 2A. So seven weeks later it hasn't gone far, but looks to be getting clear of resistance and hence is still in Stage 2A (i.e. early in Stage 2), but looks more promising now that the resistance is being cleared and it had a volume pickup of more than 2x the weekly average.
So remember, if something gets a Stage 2A rating, it doesn't mean it's the Stage 2 breakout point unless I write Stage 2A breakout on the chart, instead it just means that it's in early part of Stage 2, as it can stay in Stage 2A for many months in some cases.
I've attached the diagram I created as a rough guide to the Stage 2 sub stages that I use. So for example, following the Stage 2A breakout, all the weeks following until it makes it's first major continuation would be classed as Stage 2A.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
RE: UK Stocks - Watchlist and Discussion (Premium)
(2014-05-11, 09:05 PM)isatrader Wrote:
(2014-05-11, 08:33 PM)pcabc Wrote: Two more shorts perhaps? BHY.L & RWA.L. I've not checked the sector performance.
See attached marked up charts.
BHY.L (Stage 3A) - sector Construction and Materials NMX2350
RWA.L (Stage 3, but potential for early breakdown) - sector Support Services NMX2790
I really need to get the SMA's plotted, other stuff is preventing me from doing so time wise at the moment as the EMA150 (daily) have just flattened on both. Suspect it makes little difference in the big scheme of things, but it will only cause confusion here. RWA.L is at 310.81, above its recent low of 302 so I suppose that would be the trigger. Unfortunately my options for shorting are limited so this is more of an academic exercise for many of the potential shorts that I can see. However, it works toward tuning my eye.
RE: UK Stocks - Watchlist and Discussion (Premium)
(2014-05-11, 08:59 PM)isatrader Wrote: It is also in an under performing sector which is support services (NMX2790) which below it's relative performance zero line and is mid range of the FTSE 350 sectors currently, and in Stage 2B- on the sector chart.
This has given me a thought. Whether I should re-visit my attempts at a sector relative strength in addition to the one I do for FTSE250 (MIDD.L)? Would it cause confusion here if I added a second RS plot? Of course, this is also dependent on getting a good sector ETF and good data. Sometimes ETF data is not so good.
RE: UK Stocks - Watchlist and Discussion (Premium)
(2014-05-11, 11:07 PM)pcabc Wrote:
(2014-05-11, 08:59 PM)isatrader Wrote: It is also in an under performing sector which is support services (NMX2790) which below it's relative performance zero line and is mid range of the FTSE 350 sectors currently, and in Stage 2B- on the sector chart.
This has given me a thought. Whether I should re-visit my attempts at a sector relative strength in addition to the one I do for FTSE250 (MIDD.L)? Would it cause confusion here if I added a second RS plot? Of course, this is also dependent on getting a good sector ETF and good data. Sometimes ETF data is not so good.
Why do you need an ETF? The sector symbol is for support services is NMX2790 and data for itand all other UK sectors is available in multiple places. I download the sector data from ADVFN which is very good for UK data.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
RE: UK Stocks - Watchlist and Discussion (Premium)
(2014-05-11, 11:17 PM)isatrader Wrote: Why do you need an ETF? The sector symbol is for support services is NMX2790 and data for itand all other UK sectors is available in multiple places. I download the sector data from ADVFN which is very good for UK data.
Thanks, I'll have to look into that. I get most data from Yahoo! or Google api's, I wonder if ADVFN have an API. Neither Google nor Yahoo! seem to allow access to FTSE index data via their APIs. Hence the use of ETFs.
