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Guest Waqas786

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Looking at Tesco it is quite an interesting one given the years of bad press and decline, a rounded bottom is in place and price is back above the 200 MA on the daily chart and with plenty of space above to retest. You may well have been right to get out when you did though, buying high and hoping for continuation without some special event to drive price on is problematic given the natural wave pattern of price movement. Given the charts historic respecting of the 100 and 200 MAs buying a dip back around that region would seem a reasonable play and that dip may come soon as price is currently faltering at a resistance level.

 

Tesco PLC_20180613_06.40.pngTesco PLC_20180613_06.45.png

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Hi , very much agree and also thank  for pointing out the upside potential of this stock. It may be that there was a breakout signal tempting a 'buy the high' but the long term view would be that this blue chip stock has bottomed out after a long run of bad press and is reasserting it's position as a main-stream retailer. The upside has lots of potential now the the bad news seems to be over so a 'buy the dip' strategy would seem appropriate.

 

 

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