UK FTSE 100 (.FTSE) stocks hit record high after Boris Johnson wins Tory landslide
Stock markets and the pound rose sharply on Friday after Boris Johnson’s Conservatives secured a resounding general election win.
The FTSE 250 index of mid-sized UK firms surged 4 per cent to an all-time high on hopes that Mr Johnson will swiftly bring an end to the Brexit deadlock.
Sterling jumped 2.1 per cent to $1.34 and hit €1.20 against the euro, its highest level against the single currency since the immediate aftermath of the Brexit referendum.
Companies have held off investment since the June 2016 referendum as the UK remained in political and economic turmoil over its future relationship with the EU.
While Mr Johnson’s government still has to negotiate a trade deal with the EU, investors interpreted his comfortable election victory as one that will bring stability.
Technical Indicators
Overall, the bias in prices is: Sideways.
By the way, prices are vulnerable to a correction towards 7,290.07.
The projected upper bound is: 7,500.30.
The projected lower bound is: 7,214.50.
The projected closing price is: 7,357.40.

Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 74.5477. This is not an overbought or oversold reading. The last signal was a buy 4 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 56.14. 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 91 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 44. This is not a topping or bottoming area. The last signal was a buy 5 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 0 period(s) ago.
Rex Takasugi – TD Profile
FTSE 100 INDEX closed up 79.970 at 7,353.440. Volume was 155% above average (trending) and Bollinger Bands were 6% narrower than normal.
Open High Low Close Volume___
7,273.4707,429.0407,223.4207,353.4401,906,667,648
Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 7,230.15 7,279.80 7,320.85
Volatility: 17 13 14
Volume: 837,985,664 763,615,040 731,791,680
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 0.4% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of .FTSE at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .FTSE and have had this outlook for the last 8 periods.
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