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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.

The Market Oracle is a FREE Financial Markets Forecasting & Analysis online publication. We aim to cut through the noise cluttering traditional sources of market analysis and get to the key points of where the markets are at and where they are expected to move to next ! http://www.marketoracle.co.uk

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