Quindell have a strong support trend line indicated by the blue line on the following chart. This has broken the recent down trend highlighted in red.
Based on this analysis on Tuesday 19th May, assuming we have no breaking news and activity levels do not spike the share price has the potential to close 1.5 points higher, i.e. share price of c128.75p (+ or – 5%).
That gives a share price in the range of 127.32p – 130.17p
The only issue is the candlestick configuration for trading on the 18th May.
This candlestick configuration would normally indicate that sellers are controlling the sp. However as the body of the candlestick isn’t longer than the other candlesticks (in recent days) it can indicate capitulation of those trying to control the share price.
The indicators, if you follow charts are:
1. Should see small steady rise in share price today.
2. Share price manipulation reducing.
3. Some consolidation has taken place.
It looks like the pattern of the share price drifting lower has stopped.
Note to all private investors:
If you want to discuss shares in a forum run by private investors for private investors, strongly recommend you join BlueShare a subscription free service with no trolls. http://www.blueshare.co.uk/