"Monday 8 MayBritish Gas owner LSE:CNA:Centrica kicks of the week by updating the market, and investors will no doubt be looking for any outlook statements, with the general election just a month away. UBS already nailed its colours to the mast a ..."
So this retrace should target a similar pattern as we have seen for years now !!
By far my NUMERO UNO stock to trade this one.
I will hopefully find time to post my TA to show the next re-entry point if you are out . We are still far so don't worry . It won't happen today
For those short then the next level down is the 38.2 retrace and then the mean reversion of this last leg up . The last chance to go long will be the 61.8 ! Though like in many previous situations this has been a quick intraday movement so one needs to be quick
For the longs at the moment , I wouldn't worry . I suspect new highs will continue into the year probably 3450 , so any dip is a beautiful buy signal . Just wait though as in my view ( no advice whatsoever ) all retraces have fallen between the 31.8 and 61.8 retrace level . So at the min wait for a mean reversion to happen i.e. 50
IF shopping and household commitments allow it I will post my chart . In my view this is one of the best shares to trade and hold . No doubts . It gets carried away , retraces , and then resumes.
For years now . The fundamentals are good too and easy to understand .
Am out and will hopefully get my retrace right again.
insti / hedge fund has now a position over 0.5% short on Derwent .
Looking at the sector I could not but notice the following short interest in Zoopla , Quindell , Savills and Foxtons / What baffles me with the Foxton short is how late to the party these pro's seem to be . Gosh I went short at 375 ! wasn't that the most obvious short in the market ? ( at the time )
Gives me confidence that the so called pros are yes more capitalised that me but performance wise I have to wonder .
Am waiting to see if we get a retrace on Derwent , would be nice for me to reload starting at 3100. A light re-entry point . The chart looks toppy for the bull side I think . IF the trend continues I'd expect a typical 0.5 or 0.618 retrace to reload for the next highs and get confirmation of renewed bullishness . Till then am out
I could have earned another few pennies today , am seeing 3256 bid now moved down as I type and not hitting 3249 ( so my sell was not too bad at all )
But it looks toppy . I'd love to see another dip ( as per the multi year upwards trend) to go long again .
74 on the RSI is always a little hard to recommend as a buy from me
I would like to see the dip to what we have seen recurring time and time again.
I will post the re-entry . I need this new high to be established to then set a view on the retrace ,which if it follows the usual pattern , should be somewhere alone the fib 61.8 retrace of this leg up. At the moment somewhere around 3085-3095 , rough view .
That is where I'd go long unless the FTSE 100 tanks massively .
But as the business is very straight forward as the revenue streams are , I'd have no problem in holding them .
Note mine are short term views , Fib retraces , trend trading , etc not Hold and sell 2-5 years down the line views . So investors will have less interest in my view unless searching for an entry point
This is a nice chart to trade , trending up and no real surprise volatility in this share .
Buy on dips i.e. on the a price cross 10sma or similar or low RSI , back test to get the perfect SMA and RSI level ( for those who can ) and sell on the new highs .
I have a simple Linear Regression Channel with 1 ( or 100%) as my guide . Plot that as it tells all the story . Its a higher high type share so we know that till the trend is broken we can place stop losses at easy obvious points .
Short interest is at the moment negligible and the business is pretty easy to understand as the revenue stream ! i make P/E at a bit over 6 . So would not agree with an expensive view too
Broker estimates of recent are as per by post below
Anyone interested in sharing detailed entry exits , let me know I will respond to equally minded traders ;-))
At the moment purely as a short term trade I went long at 32,00 and will sell now at 32,52 . I wish to re-enter on a dip . I am just following a pure RSI 70 to 30 and vice versa and am looking at MACD bars and moving averages , no rocket science here / I could be wrong for a few days as RSI is not a total perfect indicator but the correlation here is good.
But in general terms this is a long and hold till the trend stalls or breaks , the chart is super clear .
I will re-buy on a dip as this will range higher and dip etc etc
( I also look at the obvious Fib pattern ) happy to discuss if anyone is interested
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