Retracements List

[Cigar]

Do you think it would be useful for us to keep a list of retracements from trends. I don't mean serious profit warning collapses, but the normal 38%, 50% etc retracements.

We can't all watch all the list all the time so many eyes might make light work.

Quite often, a retracement will bounce back to the bottom of the uptrend, giving a price target.
Again, you would be buying on a pullback of the major trend. Probably as safe a place as any in the present climate to achieve 5-10% gains.

I'll list a few I'm watching if people are interested.

 

[cookie]

Sounds good to me.

Incidentally in catching up just noticed Adam Singer the Chief Exec of Telewest has joined the board of QXL as Non Exec... LOL!!

Otherwise known as Lucky Singer.

QXL currently 11.5p from £7 in March 2000


Cookie

 

[Riz]

Good idea, Cigar..

rizgar

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[Cigar]

A good one to start..Barclays BARC

Now at 2080, obviously pulling back from 2200p. It would hit the trendline (using Hi-Lo bars) at ~2030p.
BUT
In the trend from 1 Aug, can we see 3 smaller trends, or waves, (anyone know their Elliott theory) and we know what happens after 3 uptrends.. a retracement of the larger trend.
Targets:
38% retracement ~1920p
50% retracement ~1835p
Elliots retracement to bottom of wave 4 = 1870p

 

[Cigar]

Two more in the Service Sector, which is improving in its sector ratings.

Aggreko AGK

Nice recent run, been up to 430p from 360p, now 398. Trendline target ~ 390p
Within long, 2 yr uptrend.

Serco SRP

Pulled back now to trendline at 520p. Seems to bounce off Lower Bollinger (setting 12/2). Hitting band now.