TIPS

Three Mid-Cap Tips
by top chartist Zak Mir of Zaks-TA.com - 17/04/08

Today, we chart three FTSE 250 companies that have been unexamined too long.

Bottom fishing retailers in the recent past has not been a very fruitful exercise and it may not prove to be one going forward either. That said, brave buyers may consider that the latest test for Halfords at the bottom of an ascending January price channel at 262p could be an opportunity for a long, if only to search for a test of the blue 50 day moving average at 279p. But we would need to see an end of day close above the 50 day line to promise a long lasting recovery..

Capital & Regional (CAL):

It is just as well I have only brought out a snapshot of Capital & Regional back to last September, as even this looks like a scene of torture for the bulls. The current picture is that there has been a dead 5/50 day moving average cross to start the week and that while below the 5 day moving average now at 487p on an end of day close basis one would consider that the shares are set to retest the early February support zone towards 420p.

Dana Petroleum (DNX):

Second line oil & gas stocks have been and continue to be on fire technically at the moment, with Dana one of the many in this bracket. The break today back above the blue 50 day moving average at 1,286p comes off the back of early April golden crosses between the 10/20/200 day moving averages. Indeed, while above the 50 day line on an end of day close basis the best target on the upside is regarded as being the top of the 2007 ascending price channel at 1,550p plus.

 

Best Wishes,

Zak Mir

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Zak Mir is perhaps the UK's best known chartist. If you are a serious trader you should join his website Zaks-TA.com to benefit from all his latest calls and real-time trading signals, including a new analysis of those stocks Zak thinks have been oversold in the recent downturn. For more information visit Zaks-TA.com.