Marks & Spencer's one of is the largest clothing retailors in the UK.
The shares have traded in a HUGE range (DAILY) between 194p on 20th Nov and 329.50p on 3rd April.
MKS hit a HIGH 2 years ago @ 759p in April 2007. Recent low was 194p in November 2008of 124p was in March 2009.
The shares have not closed above 400p on a monthly basis since Feb 2008.
The technicals on a Daily, Weekly and Monthly basis are
D MACD(16) STOC (42) RSI (68) 5ema (311p) 50ema (268p)
W MACD(8)STOC (79) RSI (63) 5ema (291p) 50ema (292p)
M MACD(-74)STOC (73) RSI (42) 5ema (280p) 50ema (412p)
Last DAILY BUY signal was triggered on 16March @ 250p
Last DAILY SELL signal was triggered on 19th Feb @ 255p
Last HOURLY BUY signal was triggered on 8th April @ 308p
Last HOURLY SELL signal was triggered on 3rd April @ 322p
Support levels are 223p and 264p
Resistance levels are 330p and 385p
Set a long term BUY @ 200p and SELL @ 400p
Last 13 days trading range (Hourly chart) 258-330p
Gap @ 282p left on 30th March. DAILY 50ema @ 268p should provide support.
Plan to SELL @ 330p with stop/loss at 342p and target low of 280p.
Plan to BUY @ 282p with a stop/loss of 269p and a target high of 360p
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