Here are eight UK stocks I’m watching that are setting up nicely from a technical perspective. All of these stocks pass my checklist as well, so are growing revenues and earnings at a decent clip. There’s of course no guarantee that any of these will work out as trades and this certainly isn’t advice, though my intention is to enter if any break through with reasonable volume.
I mark my charts with a few different lines, circles, indicators etc. So for clarity’s sake, here’s what they all mean:
- Thin pink line is the 50 day moving average. Thicker purple line is the 150 day moving average.
- Blue lines are simply areas I’ve marked where a price level has formed, be that resistance, support or a trend line.
- Yellow circle is where I’ve entered a position (I only trade long).
- Red circle is where I’ve sold.
- Red horizontal line is my stop.
So in alphabetical order, here’s eight stocks that I’m watching:
Aquis Exchange (AQX)
Had a recent run up from a phase four down trend & has been running in a nice tight trading range for a few months now. There was a failed breakout last month, which I traded & got stopped out of. I’ll try again on the next one.
Ashtead Technology Holdings (AT.)
This one would be for a phase two continuation. The stock has shown incredible strength over the past year and has been taking a breather since May. I’ll look to enter if the price breaks above 895, though this would be for a short term trade given the run the stocks already been on.
Auto Trader (AUTO)
Recently broke out into new all time highs, which in itself would have been an excellent entry point. Since then it’s been trading sideways, with a clear resistance level. Looking to enter above 835.
Elixirr International (ELIX)
Has been forming a phase one base for a while now. Will be looking for a longer term trade if it transitions into a phase two up trend.
FRP Advisory Group (FRP)
A stock that I started a position in this week as it broke through resistance. Opportunities for entries on the re-test of that level, or on the break through of the next level in to all time highs, which if it goes to plan is where I’ll look to add to my position.
Gaming Realms (GMR)
Currently in a phase two up trend. An opportunity to enter breaking through recent resistance level at 43p, or to wait until it breaks into all time highs at 47p.
Hunting (HTG)
Recently broke out if it’s phase one base & has started a phase two up trend. Opportunity to enter on next leg up as it breaks through 462p.
Journeo (JNEO)
Another that I entered recently as it broke through a trend line. There was another entry opportunity when it broke through horizontal resistance. I’m looking to add to this position fairly soon & will be looking to do so on either a re test of the 300p level or a breakthrough after a period of sideways action.
