Pennant Breakout ?

H

Hook Shot

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CREST NICHOLSON - 552p- Ftse 250, Housebuilder
http://finance.yahoo.com/q/bc?s=CRST.L&t=1y&l=off&z=m&q=b&c=

Looks ready to blow and perhaps has already started........? My stop is 538 last weeks lows.

Consolidation has been anticipated within the Housebuilding sector for months and so far it's been (relatively) piecemeal. Crest is a prized possession and has a large shareholder who might decide to sell out....at these elevated prices. Not cheap for a a housebuilder... already contains some bid premium - but who knows ?

The chart says some action is pending!

Hook Shot
 
Sick as a XXXXXX!!

I had put Shire on my watch list because of the pennant pattern last a week ago but didn't check it ............ Now it has a blow out move to the upside up 75p when last checked.

These triangles seem to be working very well.........most have broken out northwards... but they can go the other way too .....

http://finance.yahoo.com/q/bc?s=SHP.L&t=6m&l=off&z=m&q=b&c=

Higher lows and Lower highs.
downtrend line is through March, Late Aug and Late Sep highs
uptrend line is through june and sep lows.

Crest wasn't the best example but it's still valid.........I think.

Hook Shot
 
Hook Shot said:
CREST NICHOLSON - 552p- Ftse 250, Housebuilder
http://finance.yahoo.com/q/bc?s=CRST.L&t=1y&l=off&z=m&q=b&c=

Looks ready to blow and perhaps has already started........? My stop is 538 last weeks lows.

Consolidation has been anticipated within the Housebuilding sector for months and so far it's been (relatively) piecemeal. Crest is a prized possession and has a large shareholder who might decide to sell out....at these elevated prices. Not cheap for a a housebuilder... already contains some bid premium - but who knows ?

The chart says some action is pending!

Hook Shot
Click to expand...

HS - just wondering if you use Level 2 data ?

kk
 
kkarank
No, but I hear it's very useful....
Despite appearances ........I can't really afford the time to screen watch .......... but my brother has cnbc in his office and he looks for block trades and lets me know.

Incidentally, Total- the french oil company is forming a pennant pattern and should blow this week
will try and post later today. For education purposes only of course.

HS
 
Lead indicator for Crude ??

TOTAL - French oil major listed on Cac in Paris price~5190
http://www.bloomberg.com/apps/quote?ticker=FP:FP

Quite a wide pennant but the converging price range, especially of late, hints at a BIG move to come. Will it break out north or down south ?

Not sure, but oil is due a bounce in next 7/10d ..... Secondly, mid cap oil companies took top 4 places in Ftse 250 today and those stocks look ready to rally ....so it MAY breakout to the upside .....

Time will.

Hook Shot
 
Absolute Gem ......hopefully!

Premier Oil - Ftse 250 Oil Co.
Here's what should happen when they blow....!!!!
Interestingly Schdoders took their stake just.....before it exploded - well done them!
http://www.bloomberg.com/apps/quote?ticker=PMO:LN

However, that's history .............here's one that MIGHT be ready to do the same thing.

Tullow Oil - Ftse 250 Oil Co
http://www.bloomberg.com/apps/quote?ticker=TLW:LN

I've been harping on about oil recently....... but the stocks are moving up or look ready to do so...

Barclays have said that they are now reviewing the mid cap oil sector ............ I think I know where they'll be fishing! Dana (dnx) is the star in my opinion but you really want to buy it under £12 if poss - now 1240 -swing low- around £11. However, TLW looks interesting....

Hook Shot
 
Hook Shot said:
CREST NICHOLSON - 552p- Ftse 250, Housebuilder
http://finance.yahoo.com/q/bc?s=CRST.L&t=1y&l=off&z=m&q=b&c=

Looks ready to blow and perhaps has already started........? My stop is 538 last weeks lows.

Consolidation has been anticipated within the Housebuilding sector for months and so far it's been (relatively) piecemeal. Crest is a prized possession and has a large shareholder who might decide to sell out....at these elevated prices. Not cheap for a a housebuilder... already contains some bid premium - but who knows ?

The chart says some action is pending!

Hook Shot
Click to expand...

Hook Shot - Are you still watching this one. I like it and some of the builders generally keep half an eye on PSN Persimmon
 
Yes , still like CRST but the move north has been painstaking i.e it's making money vs tip price but nothing exciting. Story hasn't changed and firm housing market can only help. Will be interesting to see what effect BoE rate move may have on sector.

Persimmon... as you know is likely buyer in mid cap space, recent positive statements and price bubbling below 1350 is interesting. Itself was a pen breakout at 1275/80 and has move smartly.... Obviously well run but would love to see price get hammered a bit since I remember when PE's of 7 were expensive now many builders are over 10 .....

Other Bid candidates.......
Bovis - was a (journal) pick around 840 and it's ballooned to 980 and now needs a pullback badly.....at least that's what I would like.

Bellway - always been premium priced and has performed earnings wise ....again needs pullback perhaps getting it now ?

Redrow - still being re-rated but again would like to see lower prices .... potential bidders will take a longer term perspective though.

Wilson Bowden - sky high means bid interest is strong added to which you will notice a 6wk pennant formation - making it doubly interesting

Buying these mid caps is speculative for new money - without a dip in prices. But there are too many house builders and they will continue to be swallowed up like recent McCarthy and Stone.

Hope some of this stuff helps.

Hook Shot
 
take a look at GKN , SAB and ABF for BO Type patterns.

Good Luck, Charts another time its late.
 
All three are good pens .........gkn and sab my faves... abf already on the move........
 
Pennants running wild in financial stocks

Pru breaks out ........ probably just the start ?
Unfortunately, chart doesn't reflect brkout but check price below graph.
http://finance.yahoo.com/q/bc?s=PRU.L&t=3m&l=off&z=m&q=b&c=

Hbos - Pending ?
will have to use imagination to see pennant of last 4wks or so....
http://finance.yahoo.com/q/bc?s=HBOS.L&t=3m&l=off&z=m&q=b&c=

Old Mutual - 6wk penn
http://finance.yahoo.com/q/bc?s=OML.L&t=3m&l=off&z=m&q=b&c=

plenty of triangle consolidations amongst ftse financials mmmmmmm!

Hook Shot
 
Thanks kitster never knew this one existed makes things a bit easier with others posting brkouts
Cheers
HS
 
Hi Hook,

Do you Day trade or hold longer term?

I am just starting out on the FTSE 100 shares and have a couple in play, I watch the 1 hour charts for potential setups. I usually only take shares that have a low spread to keep risk down.

Thanks

Jay
 
HI guys. One thats on my watchlist at the moment is Galliford Try (GFRD), currently @ 177.

Have to say I haven't done much break out work, but this one caught my eye and I thought I'd monitor. So many companies have been trending reasonably 'straight up', I've tended to focus on them as the 'lower risk' route. I'm currently in TSCO, RPS and CW.
 
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