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Content
Signals
All indicators - Medium term
WPP Plc.May 8, 2024
Informa PlcMay 8, 2024
Intertek Group PLCMay 8, 2024
DCC PlcMay 8, 2024
RS GroupMay 8, 2024

The market showed a small gain Wednesday, and UK 100 (CBOE) ended the day at 834 points, which is an increase of 0.4 percent. The index has thereby closed up 12 out of the past 16 days and this past week the index has gained as much as 2.8 percent.

909 shares showed a gain and 858 showed a loss. 145 shares were unchanged and closed at the same price as the previous day. There was no trading in 217 shares.

Total value of the trading volume for shares and primary capital certificates Wednesday was approximately 849.3 billion.

It was very high volume in Scottish Mortgage Investment Trust PLC. At session end, 64398 million pence worth of shares had been bought and sold in the stock, which equals 31 times mean daily turnover. Scottish Mortgage Investment Trust PLC moved horizontally and closed at 893 pence (-0.1 percent). The stock is trend wise positive in the medium term, has support at 810 pence and a further increase is indicated.
AstraZeneca developed positively, and gained 2.5 percent to a close of 12269 pence. The stock thereby broke the previous record from Apr 2023 and set a new all time high. It also looks good technically. The stock is trend wise negative in the medium term, but has marginally broken up through resistance at 12200 pence.
HSBC Holdings PLC was up 1.7 percent to close at 721 pence. The stock has now closed up for the eighth day in a row. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 637 pence and a further increase is indicated.
COCA COLA HBC LTD Ordinary Shares developed positively, and gained 1.3 percent to a close of 2712 pence. The stock has thereby closed up 13 out of the past 15 days and this past month the stock has gained as much as 13.4 percent. Technically it also looks good. The stock is trend wise positive in the medium term, has support at 2570 pence and a further increase is indicated.
Intertek Group PLC closed up 1.3 percent to 5075 pence. We must go back to May 2022 to find a higher close for the stock. The stock has now closed up for the fourth day in a row. The stock broke up through the resistance at 5032 pence in inverse head and shoulders formation. This triggered a buy signal and a further increase to 5237 pence within two months is indicated.

US 500 approximately even on Wednesday
S&P 500 moved more or less horizontally on Wednesday and closed at 5188 points (-0.0 percent).

Indices
UK 100 (CBOE)
arrow green   Positive Candidate
UK 100 (CBOE) has broken the rising trend up in the medium long term, which indicates an even stronger rising rate. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 774. The objective at 821 is now met, but the formation still gives a signal in the same direction. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 791 points. RSI is above 70 after a good price increase the past weeks. The index has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically positive for the medium long term.
S&P 500
arrow yellow   Neutral
S&P 500 has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The index has broken a resistance level in the short term and given a positive signal for the short-term trading range. The index is testing resistance at points 5250. This could give a negative reaction, but an upward breakthrough of points 5250 means a positive signal. The index is overall assessed as technically neutral for the medium long term.
Today´s Case
Intertek Group PLC (ITRK) Price 5075.00, May 8, 2024
chart
Intertek Group PLC shows strong development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The stock has broken an inverse head and shoulders formation. A decisive break of the neckline at approximately 5032 will signal a further rise to 5237 or more. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 4830 pence. The stock is overall assessed as technically positive for the medium long term.
Recommendation: Positive
Latest days indices
AEX-0.05%899.60
CAC400.69%8131.41
COMPX-0.18%16303.00
DAX0.37%18498
HEX-0.01%10109.00
N1000.39%1534.39
OMXC25GI0.40%2236.26
OMXSPI0.01%974.44
OSEBX0.30%1398.27
PSI200.15%6726.20
TECDAX-0.26%3350.46
BUK100P0.43%833.82
EURUSD-0.22%1.0700
CL (OIL)0.78%78.99
Indices Evaluations
 SML
AEXpospospos
CAC40negpospos
COMPXpospospos
DAXpospospos
HEXposnegneg
N100pospospos
OMXC25GIposneutralpos
OMXSPIpospospos
OSEBXpospospos
PSI20pospospos
TECDAXnegpospos
BUK100Ppospospos
EURUSDpospospos
CL (OIL)neutralposneutral

S: Short term.    M: Medium term.    L: Long term.
Stock Exchange barometer
FTSE 100 - Medium term
 
      
60% 20% 20%
 59 Buy Candidates
 20 Neutral
 19 Sell Candidates
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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.


Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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