Here’s a list of crowded stocks that tend to outperform, according to BofA
The FTSE 100 index is trading in a symmetrical triangle pattern on 4 hour time frame. Although, these patterns are ranked towards the bottom due to their unreliability, however they usually break in the direction of the trend. As the price is trading above the 50 and 100 day (showing yellow and red) moving averages, this confirms that the trend is toward the upside. As long as the price is trading these averages the bias remains towards the upside.
The RSI- which is a momentum indicator is also trading in line with the price action which means mean that the current downward move has a momentum behind it.
Important Zone
6447-6429 Resistance
5958-5940 Support
Disclosure & Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam