Is it just me, or is TSCO's chart actually looking rather positive at the moment?
There's a very nice series of higher lows coming out of the bottom at the start of 2016. And the price action so far this year has been encouraging, with the stock seeming inclined to test the upside - currently at 214 pence, it has closed above 210p in 30% of trading sessions in 2018. Today the shares touched 217.31p, the highest price since December 2016.
The 220p-ish area looks like the next hurdle to get past on the way up, as the stock turned back there in the fourth quarter of 2016 and in mid-2015. I would view it as very positive if the shares were to make a clean break north of that level.
(I hold, regrettably.)
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Tesco (TSCO)
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Re: Tesco (TSCO)
CommissarJones wrote:Is it just me, or is TSCO's chart actually looking rather positive at the moment?
There's a very nice series of higher lows coming out of the bottom at the start of 2016. And the price action so far this year has been encouraging, with the stock seeming inclined to test the upside - currently at 214 pence, it has closed above 210p in 30% of trading sessions in 2018. Today the shares touched 217.31p, the highest price since December 2016.
The 220p-ish area looks like the next hurdle to get past on the way up, as the stock turned back there in the fourth quarter of 2016 and in mid-2015. I would view it as very positive if the shares were to make a clean break north of that level.
(I hold, regrettably.)
I saw in Saturday’s FT (17 March, p 20, London market report) that ‘Tesco faded after a single investor sold nearly £600m of shares at a 1.8% discount to Thursdays close.’ As I write they’re 207.55 in a generally weak market.
Jon
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Re: Tesco (TSCO)
It's all my fault. I was in a medium/large Tesco (mid-Gloucestershire) on Saturday morning, and it looked pretty ropey for what should have been one of the busier days of the week. Shelves half-empty (or, in several cases, completely so), décor tatty, till staff looking jaded and tired, and not enough customers. They'd all buggered off, either to Waitrose or to Lidl, by the look of it. I tend to attach some importance to that sort of thing when it comes to retailers. Nope, I thought, if Buffett couldn't make money out of Tesco, then nor can I.
BJ
BJ
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Re: Tesco (TSCO)
Nice-looking jump by TSCO today following the release of annual results, clearly surpassing the highs of late 2016 and earlier this year. The stock touched 225.6 pence, the highest level since June 2015. Onward and (hopefully) upward.
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