[isatrader]

A few for the UK long watchlist - SFE.L (Stage 2A attempt), SGP.L (early Stage 1)

       

[malaguti]

LRE.LON not on the immediate alert, but one to watch all the same with an inverse head shoulders perhaps forming
a break of the last lower high prompted me to look at this one

[pcabc]

LRE.LON not on the immediate alert, but one to watch all the same with an inverse head shoulders perhaps forming
a break of the last lower high prompted me to look at this one

The issue I have (an issue with myself) with that shaped chart is when does the breakout occur? Assuming a rising MA30 is it at the level you have marked? As the downward resistance is broken? Or is it around 950?

[isatrader]

LRE.LON not on the immediate alert, but one to watch all the same with an inverse head shoulders perhaps forming
a break of the last lower high prompted me to look at this one

The issue I have (an issue with myself) with that shaped chart is when does the breakout occur? Assuming a rising MA30 is it at the level you have marked? As the downward resistance is broken? Or is it around 950?

This is where the weekly ichimoku cloud is useful for determining where the true breakout level is that would be clear of resistance. See attached weekly chart which shows LRE.L is attempting to form a Stage 1 base, and to look for a breakout above the 700 area resistance for a clear move into Stage 2A. But it's still early in it's Stage 1 base formation currently, and is yet to form a higher swing low.

   

[keithbin]

Personally, I would be leery of this one because of the poor RS (below the blue avg line, which is also declining)

[StageAnalysis]

Here's a few for the UK long watchlist from the intraday scans - BRSC.L (Stage 1), AMC.L

       

[malaguti]

LRE.LON not on the immediate alert, but one to watch all the same with an inverse head shoulders perhaps forming
a break of the last lower high prompted me to look at this one

The issue I have (an issue with myself) with that shaped chart is when does the breakout occur? Assuming a rising MA30 is it at the level you have marked? As the downward resistance is broken? Or is it around 950?

The way I see it, its in a 2a at the moment and a break of the last high at c700 will be a continuation

[isatrader]

The way I see it, its in a 2a at the moment and a break of the last high at c700 will be a continuation

I'd argue that that although it made a Stage 2A breakout attempt. It immediately reversed the following week and closed back below the breakout level and has since moved lower. So I would class it as a failed Stage 2A breakout attempt and now back in Stage 1 personally, potentially attempting to create the right shoulder of an inverse head and shoulder base. But we will see.

Also, see the attached monthly chart, which my research has suggested that when a stock attempts to make a Stage 2A breakout on the weekly, should also be at least moving above the 30 month MA on the monthly chart and hence back into Stage 1A on a monthly basis, which LRE was still well below on it's weekly Stage 2A breakout attempt, as it was still in a monthly Stage 4.