UK Stocks & a 21 EMA Bounce?

[FXfreddie]

This thread will try and post UK stock tickers that offer charts with price action near the 21day EMA that might look like candidates for a "bounce" either to the up side (uptrenders) or down side (downtrenders).

The goal is to try and foster discussion on any stock tickers that might have charts worth investigating further. Ideally, the stocks will have been trending recently with an opportunity to find a support/resistance cluster near the 21 Day EMA (e.g. old highs/lows, prior breakout/down zones).

For example:

Some Uptrending stocks with charts to look at include:
IMG
IPF
POG

Downtrending stocks?
Looks like the weakest performers in the FTSE-350 in the last month are a bit extended away from their 21-EMA, so

I will try and update this thread every couple of days.

Good trading,
AFA Freddy

 

[FXfreddie]

Uptrending stock follow ups:
IMG = looks like closed near its 21 EMA (205p) and today is getting a pop thanks to the FTSE rally
IPF = looks like it's still bouncing along its 21 EMA (has gone more horizontal now)
POG = started its bounce off its 21 EMA on 03/11/09 and mid-day 04/11 is progressing upward

 

[FXfreddie]

Uptrending stock follow ups:
IMG = closed 04/11/09 with a solid pop, up at 225p. 21-ema definitely behaved as an uptrend friend on this one.

IPF = bounced a bit on 04/11/09 with a solid close, but volume was nothing impressive

POG = strong up close on 04/11/09, reminiscent of IMG. Looking like its making an assault on resistance at 1200p

anything new to watch?
SMDR = looks like it bounced between its 21 and 50 EMA, maybe a break of yesterday's highs (254p) on good volume could signal the uptrend has found some new momentum.

AMEC and JMAT = looks like some grinding along a horizontal 21 EMA, maybe look for a strong close above 830p on AMEC and a break of 1460 on JMAT.

Will follow up on how these fare.
The idea attempts to be simple (a) follow the stock index trend = an uptrend where pullback may have found support (b) find some stocks that have pulled back near 21 EMA zone (c) ask whether or not a momentum reversal in those stocks could be played?

 

[FXfreddie]

Uptrending Stock Follow ups- nov 5th closing prices
Bearing in mind that NFP Friday can set the table for an important reaction in the following week (just look at 1st Friday of month and following week's action on FTSE-100 since the March-09 Major Lows)

IMG = pauses after its pop near 220p, a near +10% rally off swing low. can it take out the highs at >240?
IPF = a low test bar, low volume. will this be the upside launch pad or do we fail remains open ?
POG = strongest of the 1st 3 stocks noted this week, right up at its recent highs, will it break resistance 1200p?
SMDR = closed very strong @ 260p after 21 EMA bounce. volume was >avg = encouraging sign
AMEC = mirror image of SMDR, big up move on >avg volume

No other new stocks to follow up on for now. Will keep hunting for potential 21 EMA bouncers (love those low-test bars on light volume pullbacks / for shorts its the opposite = high test bars on light volume pullbacks in downtrends).

 

[FXfreddie]

It can't all be Uptrending stocksm what about downtrending stocks?

Looking at 3i Group (III = ticker on LSE) its interesting to see a 21<50 EMA dead cross a few days ago followed up by an upwards pullback by III into its 21-50 EMA cluster. Maybe we need some stalling action on Monday November 9th before the stock sets up a potential entry opportunity to the short side. It seems as though III's sector peer IAP has had a similar dead-cross but price action has not bounced back up as close to the 21-50 EMAs yet. Another sector peer is IGG, and it has had the same 21-50 cross followed by a pullback to the 21-50 EMA cluster (old support = new resistance?).

We'll keep an eye on this for the week of November 9-13th.

 

[FXfreddie]

No sell on weakness as of mid-day Nov 9

It can't all be Uptrending stocksm what about downtrending stocks?

Looking at 3i Group (III = ticker on LSE) its interesting to see a 21<50 EMA dead cross a few days ago followed up by an upwards pullback by III into its 21-50 EMA cluster. Maybe we need some stalling action on Monday November 9th before the stock sets up a potential entry opportunity to the short side. It seems as though III's sector peer IAP has had a similar dead-cross but price action has not bounced back up as close to the 21-50 EMAs yet. Another sector peer is IGG, and it has had the same 21-50 cross followed by a pullback to the 21-50 EMA cluster (old support = new resistance?).

We'll keep an eye on this for the week of November 9-13th.

Looks like some strength so far today on III, IGG. We may need to see another few days of stalling before the downtrend shows whether it wants to resume.

 

[FXfreddie]

Last Week's Uptrending Stocks kick off this week with market tailwinds

Uptrending Stock Follow ups- nov 5th closing prices
Bearing in mind that NFP Friday can set the table for an important reaction in the following week (just look at 1st Friday of month and following week's action on FTSE-100 since the March-09 Major Lows)

IMG = pauses after its pop near 220p, a near +10% rally off swing low. can it take out the highs at >240?
IPF = a low test bar, low volume. will this be the upside launch pad or do we fail remains open ?
POG = strongest of the 1st 3 stocks noted this week, right up at its recent highs, will it break resistance 1200p?
SMDR = closed very strong @ 260p after 21 EMA bounce. volume was >avg = encouraging sign
AMEC = mirror image of SMDR, big up move on >avg volume

No other new stocks to follow up on for now. Will keep hunting for potential 21 EMA bouncers (love those low-test bars on light volume pullbacks / for shorts its the opposite = high test bars on light volume pullbacks in downtrends).

Last week's uptrenders have marched forward as of mid-day Monday Nov 9th

IMG = cleared 230p, can we stretch further to the old highs just above 240p?
IPF = trading near the highs of last week around 220p
POG = clean break of 1200p resistance, and has attacked 1300p now
SMDR = approaching 270p, pushed a bit higher after the big volume on Nov 5th
AMEC = can we close above 870p resistance after the big volume on Nov 5th

Last week's 21-EMA bouncers on the uptrend are definitely off to a solid start this week.

Will have to see what new ideas can be found in the days to come.

 

[FXfreddie]

Uptrenders Update - November 10th close
IMG = flopping around @ 220p
IPF = lost steam at 220p? this could be setting up for a roll over
POG = a bit of an ugly reversal after the break to new highs. will 1200p level old "R" become new "S"?
SMDR = did it stall at 270p, to make a LH?
AMEC = maybe we can consolidate around 860 and form a handle-area before breaking to new highs beyond 880p?

In general, the 21 EMA up bouncers from last week look like they could have had some profit taking if using partial position scale-out methods (e.g. 1:1 risk, in some cases 2:1 reward:risk, with risk defined as stop losses tucked behind swing lows or the 21 EMA/or both).

Missed the Short on BARC that coincided with the 9th November printing a tiny high-test bar on the 21 & 50 EMA. That one tumbled thanks to the reaction to the trading statement on the 10th. That was a shame. It makes me wonder if stocks with charts such as PAG:LN or LII:LN are currently setting themselves up for shorting in a sequence that's reminiscent of what happened to BARC? Hmmmmmmmm

 

[FXfreddie]

Uptrenders Follow Up - November 11th Close

IPF = tumbled back down near its 21 EMA @ 206p = the sloppiest of the bunch
The rest of them are either holding up (AMEC, SMDR, IMG) or in fact threatening new highs (POG)

What about anything new for an upside play?
I am struggling to locate any FTSE-350 shares trading near an uptrending 21-EMA line and having put up a decent % rally in the last 20-30 days (i.e. >10%). A ticker near the 21 EMA that could be worth watching for a bounce is FLTR:LN, looking for a push above Nov 11th highs (175p) as a sign of interest (21 EMA is at 170p)

 

[FXfreddie]

What about any Sell on Weakness Ideas Near a 21-EMA?
Nothing terribly interesting being filtered so far. Some of last week's ideas that rallied further are possibly showing some stalling. This relates to General Financials sector names such as III, IGG, IAP (but results are coming soon), TLPR. I ask myself "What If they get a results reaction like BARC's this week?".

 

[FXfreddie]

Uptrenders Update - November 16th
The Good: SMDR and POG rallies remain intact, IMG is threatening highs
The Bad: IPF and AMEC (big tumble down to 50 EMA).
The indifferent: FLTR = not doing much

If AMEC breaks the 800 round number support area, we are looking at a Lower Low, which could make any pullbacks up to 21 EMA something to consider on the short side.

 

[FXfreddie]

Sell on Weakness near 21 EMA - Update November 16th
Looks like General Financials had some stocks that reacted sharply since the Nov 12th update.
III = negative results reaction, but not a lower low so pullbacks to 21 EMA not for shorting
IAP = results due this week, we have tumbled from 21/50 EMA zone in last 2 days
TLPR = major tumble from 21 EMA
IGG = continues to hold up

In the context of BARC's negative reaction, I see that BARC is near support at 320....don't short support.

Anything new to watch?
My filters show BDEV as a stock that has tumbled worse than 15% in the last 30 days and that is bouncing up to its 21 EMA....let's watch this one this week. A similar ticker is AU. and AV.
3 tickers to watch this week for any possible weakness: BDEV / AU. / AV.

 

[FXfreddie]

Update to the Sell on Weakness from November 16th

1. BDEV = NO Weakness yet, this rallied more with the FTSE-100's breakout yesterday. This stock has an AGM later this week, the next stop looks like the 50 EMA at the 150p round number. Wait and watch.
2. AU. = did not break to new highs alongside FTSE yesterday, maybe stalling at the 1440 area where we find both 21 and 50 EMAs moving in horizontal fashion (21 < 50 in this instance). Looks like a break of 1400 on volume would be needed.
3. AV. = broke up to highs alongside FTSE, but the close was pretty sloppy. Maybe we need to see if it "wicks" it on a high test bar to set up a reversal.

I notice the best performing FTSE sectors in the last 20 days are not exactly "high beta".....Food & Drug Retailers, Health Care Equipment.

 

[FXfreddie]

Uptrenders Update November 17th (16th closing prices)

1. Still chuging upward = SMDR near highs and POG near highs, as is IMG

2. Consolidating or finding support? = IPF, has not gotten going but its at 21 EMA at the moment,
maybe its finding support. AMEC = first time touch of 50 EMA found a bounce (never short support!)

3. Not doing much = FLTR

General financials mixed picture update
III rallying post results, if it rallies enough maybe it will drag 21 EMA above 50
TLPR = not yet found support
IAP = stuck near its 21-50 EMA zone