Wednesday, May 26, 2010

FTSE 250 (MIDD) Holding Rising Support from Nov 2009

Wednesday's recovery, while starting below the 200-day MA, is linked to a rising support line connecting reaction lows (of closing price) from November 2009 and February 2010 to today. While the dominant intermediate trend remains down (with down targets still in play) there is a chance this rally could come back to the 50-day MA, although the initial challenge will be to close above the 200-day MA.

Zignals Chart Image

Of the 58 trading strategies available, yesterday's signals were dominated by updated targets for short positions.

ASX Oak

New Short Target and Stop for MAP (Sydney) at AU$2.69 (EoD): Target AU$2.42, Stop AU$2.96
Short Entry for ANN (Sydney) at AU$12.47

Developing a Strategy

Long Exit at Stop for KO (NYSE) at $50.15

Frankfurt High Winners

Long Exit at Stop for DEZ (Frankfurt) at €3.96
Long Exit at Stop for DPW (Frankfurt) at €11.25
Long Exit at Stop for PFV (Frankfurt) at €53.28
Long Exit at Trailing Stop for SAP (Frankfurt) at €33.91

India Oak

Short Entry for SBI (Mumbai) at INR2236.5
Short Entry for BOB (Mumbai) at INR691.4

Indian High Winners

Long Exit at Trailing Stop for UNBK (Mumbai) at INR279.7

ISEQ Elm

Long Exit at Stop for KRZ (ISEQ) at €21.07

Relative UK

Long Entry for RWS (London) at 266p

Relative US

Long Exit at Stop for HPQ (NYSE) at $44.15

Short Trender

New Short Target and Stop for SBUX (Nasdaq) at $24.30 (EoD): Target $20.46, Stop $26.00
New Short Target and Stop for HPQ (NYSE) at $44.44 (EoD): Target $42.23, Stop $49.57
New Short Target and Stop for IP (NYSE) at $21.01 (EoD): Target $20.48, Stop $24.04

UK Golden Brown

New Long Target and Stop for BILN (London) at 165p (EoD): Target 187p, Stop 153p

UK High Winners

Long Exit at Stop for LIO (London) at 90p

US Oak

New Short Target and Stop for CAT (NYSE) at $56.08 (EoD): Target $50.17, Stop $61.31
New Short Target and Stop for MSFT (Nasdaq) at $25.70 (EoD): Target $22.84, Stop $27.92

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