UK FTSE 100 (.FTSE) found itself off its six-month highs

UK FTSE 100 (.FTSE) found itself off its six-month highs

UK FTSE 100 (.FTSE) found itself off its six-month highs

Shares tumbled as much as 40% at one stage as it said this will knock profit margins, which, together with changes to premium renewal prices and investment in new products, will see underlying pre-tax profits slump up to 42% in 2019-20.

It is now pencilling in profits of between £105 million and £120 million for 2019-20.

Shares closed down 39.55p, or 37%, at 67.25p.

Mothercare shares also came under pressure as the baby retailer revealed UK sales tumbled 8.8% in its fourth quarter and warned that trading conditions are set to remain “challenging”.

The babycare chain said the like-for-like sales fall in the three months to March 30 marked an improvement on the previous two quarters, but the result was boosted by clearance promotions from shop closures.

It added that the clearance sales had “significantly” hit online sales.

Shares were down 1.55p at 20.8p.

Trafford Centre owner Intu’s shares were in the red as it picked a new boss after a challenging year for the company amid a retail crisis and failed merger talks.

Matthew Roberts, the chief financial officer, will take the top job at the end of April after the departure of incumbent David Fischel.

Shares were down 1.25p at 104.75p at the close.

The pound came under selling pressure, falling 0.6% versus the US dollar to 1.307 at the London market close.

Against the euro, sterling shed 0.5% to 1.165.

“The pound’s initial positivity was abandoned after lunchtime.

“This as it awaits the result of the Cooper Brexit delay bill debate in the House of Lords, one that could come pretty late given how slowly the peers are moving,” Mr Campbell added.

The House of Lords was debating whether to rush through a backbench bill designed to stop the UK crashing out of the EU next week after it cleared the Commons in a single day on Wednesday.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 7,140.75.

The projected upper bound is: 7,564.01.

The projected lower bound is: 7,263.19.

The projected closing price is: 7,413.60.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 95.6515. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 5 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 65.55. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 110 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 115.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 9 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 2 period(s) ago.

Rex Takasugi – TD Profile

FTSE 100 INDEX closed down -16.340 at 7,401.940. Volume was 6% below average (neutral) and Bollinger Bands were 4% wider than normal.

Open High Low Close Volume___
7,418.2807,418.4307,367.4407,401.940 696,556,160

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 7,281.79 7,161.43 7,220.45
Volatility: 15 13 16
Volume: 713,950,720 723,765,696 767,421,824

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FTSE 100 INDEX is currently 2.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into .FTSE (mildly bullish). Our trend forecasting oscillators are currently bullish on .FTSE and have had this outlook for the last 2 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH