TATE & Lyle PLC (TATE)

TATE has just come into my radar. Friday's candle looks like an exhaustion candle to me - i am hoping this is signs that sellers are being flushed out of the toilet bowl at the moment

the 4 hourly chart looks interesting with evidence of accumulation with 2 hammers showing up. There seems to be signs that the recent low (friday) could be creating a divergence.

dl.dropboxusercontent.com/u/4385922/Tate4hourly.png

Any thoughts would be highly appreciated.

dl.dropboxusercontent.com/u/7238706/TATE%20%26%20LYLEwkly.png
This instrument has been running in a channel since 2009.....


dl.dropboxusercontent.com/u/7238706/TATE%20%26%20LYLEdaily.png

The daily shows the last candle in the target zone between the 50 & 61.8% fibs; support in a band from 748.00 to 759.50; support from the long-running trend line dating back to March 2009; the Stochastic RSI at 0; the last candle forming a bullish hammer and a gap above between 770 and 783.5.

There's a distinct possibility this could go long

This is bang on the main uptrend line
This is from this weeks share tips
possible long with stops should be below 729 so risk is small


dl.dropboxusercontent.com/u/4899609/tate27thsept.png


dl.dropboxusercontent.com/u/4899609/tatelong.png

be aware of the rounded top formation as well...

This is looking nice at the moment. I will wait for a bit more power and a retrace with a divergence before entering.

123 low possible with a hammer at weekly support already. Large gap above. Stops a must placed just below 620p

dl.dropboxusercontent.com/u/37955053/TAT...6%20LYLE%20Daily.png

dl.dropboxusercontent.com/u/37955053/TAT...%20LYLE%20Weekly.png

Charts didn't upload properly, 2nd try.

123 low possible with a hammer at weekly support already. Large gap above. Stops a must placed just below 620p