XEL

Please can someone confirm the closing mid price for xel today?

Many thanks

I have it as 102



dl.dropbox.com/u/24866576/February%20201...D%20ORD%20040213.gif

M.

Broad-rock wrote: Hi Jackozy,

Can I ask about the RSI back test you mentioned ? (this is only valid if the RSI trend is formed from a divergence).

I think you mean the divergence at the top and not the bottom.

Hi Broad-rock,

Sorry for not coming back to you on this earlier.

In this particular case (XEL), yes, I was referring to the RSI downtrend formed from the bearish divergence at the recent 139p high.

In general, I find that RSI trendlines work reasonably well but only when they form from either a bullish or a bearish divergence. Breakouts from these RSI trendlines can be false (I have some guidelines to tell me when to expect these) so it's always a good idea to sell the first resistance.

There's a bit more to this which I've not yet ironed out so I don't want to say much more, just that in the past I've noticed that there have been false price breakouts in some shares but the RSI trendlines have worked perfectly and I would not have been caught out if I'd followed RSI rather than price.

It's a bit of a work in progress.

ATB

Keep an eye on this today - looks like it's making a move. Still needs to close above 110-112.5p to open up target at 139p resistance:



dl.dropbox.com/u/20815047/XELdaily22_02_13.gif

A close above 102.5 is very significant.

Ichimoku Trader has today confirmed today was a strong signal.

dl.dropbox.com/u/4385922/XEL_ichimoku.png

All the best to my fellow long term holders. It could be turning to some heavy duty movements...

Yep, that's a bullish close however there is plenty of resistance ahead so let's not get carried away:



dl.dropbox.com/u/20815047/XELdaily25_02_13.gif

There's 110p resistance and the iH&S neckline at 112.5p to get through first. Target then is 138/9p initially followed by a retrace and then 150p IMHO.

GL