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By top chartist Zak Mir of Zaks-TA.com
Rolls Royce (RR.):
The 20 / 50 day moving average at the end of last week meant that Rolls Royce was not far off being the Chart of the Week. However, it did not make the grade on the basis that for some reason the stock is a rather erratic play, even at the best of times. That said, there is a rising trend channel in place since February, and while above the floor of the channel at 340p on an end of day close stop loss basis the upside here should be the price channel top as high as 390p on a one month perspective.
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Premier Foods (PFD):
Perhaps rather strangely the position of Premier Foods in relation to its black 200 day moving average now at 36.75p is almost exactly the same as what is going on with the FTSE 100 at the moment. The assumption / hope is that in both case the 200 day line will mark the low of the recent retracement. At least for Premier one can say that while above the 200 day line on a weekly close stop loss basis the expectation is for a two month journey to the top of the November rising trend channel at 53p.
* The value of investments can go down as well as up. Past performance is no guarantee of future success. Investing in equities can lose you part or all of your capital. The tips given here are of necessity, general. They cannot relate to the individual circumstances of investors. Anyone considering following the recommendations contained here should seek independent advice. Financial spreadbetting is a higher risk activity the losses on which are theoretically unlimited.
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Informa (INF):
The daily chart of Informa shows a rather unusually messy rising trend channel in place for Informa since October, with the early May spike something of a wild aberration. The current position is that one is looking for the floor of the late 2008 channel to hold at 208p, with the stop loss for the bulls the intraday low of this month at 200p on an end of day close basis. The upside while support holds is in the order of the black 200 day moving average at 246p on a one month timeframe.
Best Wishes,
Zak Mir
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