Sell Marks & Spencer

Dec 21, 2016

Marks has rallied into multiple levels of resistance on the daily chart. This is the top of the range where previous highs have stalled. It is also the 200 day moving average. There is divergence on both the relative ratio(vs UKX) and the RSI, which suggests the momentum is stalling. Sell with a stop at 364p, targeting a move towards the lower end of the range at 308p

Jan 3, 2017

Note

The resistance on MKS has worked perfectly. Next downgraded this morning is causing further drag

Jan 4, 2017

Note

Trend support comes in around 325p, there are multiple supports around here towards 308p.
Bring stops in to protect profits