A close below 950p would create the largest area of overhead supply, converting the breakout and rally of March-April into a massive bull trap (i.e. anyone who likely bought FTSE 250 components in March/April and still held their shares on loss of 950p would be holding a losing position). So while downward targets of 850p may sound a long way away the conditions required to get there are approaching fast.
The Zignals Trading Strategies signals from Tuesday are mostly stop exits or unacted long entries. You can subscribe to any of the strategies listed below here.
ASX Oak
New Short Target and Stop for IPL (Sydney) at AU$2.96 (EoD): Target AU$2.65, Stop AU$3.23
ASX Price x 20-day MA
Long Confirmation Entry for CCL (Sydney) at AU$11.31
Long Exit at Stop for AMP (Sydney) at AU$5.74
Long Exit at Stop for ORG (Sydney) at AU$14.67
Long Exit at Stop for TAH (Sydney) at AU$6.41
Developing a Strategy
Long Confirmation Entry for WMT (NYSE) at $53.43
Frankfurt High Winners
Long Unacted Entry for BAS (Frankfurt) at €45.49 (EoD): Entry signal given, but exited position on same stock too recently (4) days ago.
Indian Golden Brown
Long Confirmation Entry for SBI (Mumbai) at INR2266.5
Indian High Winners
Long Entry for SBI (Mumbai) at INR2266.5
Long Confirmation Entry for ONGC (Mumbai) at INR1035.1
Irish Oak
Short Confirmation Entry for EG7 (ISEQ) at €7.37
Mumbai Elm
New Long Target and Stop for GLXO (Mumbai) at INR2215.1 (EoD): Target INR2498.1, Stop INR2043.9
Relative Aussie
Long Entry for LEI (Sydney) at AU$32.77
Long Exit at Trailing Stop for WOR (Sydney) at AU$24.70
Relative Canada
Long Confirmation Entry for IDX.UN (Toronto) at $10.22
Long Confirmation Entry for VIP.UN (Toronto) at $8.62
Long Confirmation Entry for FAP (Toronto) at $6.30
Relative Frankfurt
Long Confirmation Entry for IDS (Frankfurt) at €15.80
Tri-Indicator Aussie
Long Exit at Trailing Stop for OSH (Sydney) at AU$5.35
Long Exit at Trailing Stop for WOR (Sydney) at AU$24.70
Tri-Indicator Indian
New Long Target and Stop for PFC (Mumbai) at INR295.1 (EoD): Target INR325.6, Stop INR266.4
UK Golden Brown
Long Exit at Stop for CCAP (London) at 15p
UK High Winners
UK High Winners New Long Target and Stop for ACMG (London) at 204p (EoD): Target 225p, Stop 194p
Long Exit at Stop for CCAP (London) at 15p
US High Winners
Long Confirmation Entry for WMT (NYSE) at $53.43
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