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JD Sports


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@dmedin,  HL  https://www.hl.co.uk/shares/shares-search-results/j/jd-sports-fashion-plc-ordinary-0.25p 

See this thread;  

I decided to short JD Sports for the following reasons: 1) Long and overextended bull run with declining RSI peaks 2) Increased volume on second failed attempt to break high of 649 - buying

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Seems like nothing can stop JD Sports right now.  I've gone long on a March 2020 future and drawn up a Fibonacci extension.  The most optimistic broker PT is about £8 I believe, but I hope it will go further.

464011894_JDSportsFashionPLC_20190927_13_54.thumb.png.81131b604fb89ced0174b3ecb54c099c.png

Edited by dmedin
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  • 4 weeks later...
On 22 June 2019 at 13:27, davidbrister said:

From my experience with the RSI indicator, once it gets back down to that 30's mark, it tends to then swing back up.

The high volume sell off in that last volume stick and the price drop in the candle could indicate a move to a short position, personally i use the Parabolic SAR with the Macd as my indicators, havent done too much with the Fib charts.

The problem i see with drawing your own lines on the chart is that you can make them any where you want to fit your narrative, which can screw your chart to suit your mind, not your trading plan, so i would be very careful with that.

with out my normal indicators, im going to say its over sold from the RSI and it will move up not down, but i hope for your sake im wrong.

Be interesting to see where it goes, hope u update it later.

Thanks alot

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  • 2 weeks later...

Doesn't seem very significant considering the developments in markets elsewhere but I'm short on JD Sports and it seems to be on the turn.  I've hidden them on the chart but my stop is up above 796 :D

jd.thumb.png.dc4101ea124ef91d44a28cb47881a832.png

Edited by dmedin
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Apropos of which, I've gone against one of the cardinal rules that I meant to set for myself, which is not to trade against the trend.  But we'll see what happens with JD Sports - I'd be really surprised if it shoots up past £8 in the near future.  😋

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Haha perhaps not then :P Let's see if they get to acquire foot asylum!  Last time I was in a JD Sports shop in town, it was packed to the rafters, utter chaos, the staff were clueless and the customers were arrogant pr!cks ... another example of great British business (treat your employees like cattle and pay them starvation wages)

2135045403_JDSportsFashionPLC_20200305_13_59.thumb.png.ca2d6e1585cdbd5d35e843ce6052fae9.png

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