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FTSE 100 Analysis & Forecast - Time to Buy ?

Stock-Markets / UK Stock Market May 05, 2005 - 12:40 PM GMT

By: Nadeem_Walayat

Stock-Markets After correcting the uptrend towards 5100, is the FTSE now gearing up for the next push up ?

FTSE 100 Analysis & Forecast - Time to Buy ?

Technical Analysis

1. Support - Lies between 4800 and 4700, previous tops and bots during the uptrend.
2. MACD - (Bottom indicator) Made a higher high before the recent downtrend began which suggests the downtrend will be short lived.
3. 40 week Moving Average - Cuts in at around 4700, though the FTSE like to breach it by 100 points before indicating a low which suggests 4600 going forward..
4. Uptrend Line - This is the main support line, is currently at 4760, indicating strong support in that area.


Buy Trigger - The Primary Buy trigger for the FTSE is the break of a downtrend line from the start of the correction which is presently at about 4915.
Stop Loss - The best place for the stop would be under the last significant low after the FTSE has breached the buy trigger. Current last low is 4780.
Target - A safe target would be be mid-way between the two trendlines projecting forward to the end of the year i.e. 4800 and 5500, implying a conservative mid-way target of 5150.

Nadeem Walayat

(c) MarketOracle.co.uk 2005

Disclaimer - This Trade Scenerio is provided for general information purposes only and you are reminded to seek independent professional advice before entering into any investments or trading positions.

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