Tesco reported the financial year end today (TUESDAY 21st APRIL)
Sales grew 13% to nearly £54bn
Profits up 10% to £3.1bn
Diluted EPS up 1.5% to 27.3p
Dividend up 9.7% to 11.96p
Debt up to £9.6bn to finance aquisition in South Korea and buy out RBS in the financial services joint venture.
UK undeline growth of 3-4% is unlikely to be met in 2009.
The shares have traded in a range (DAILY) between 284p on 21st Nov 2008 and 375.50p recently on 6th Feb 2009. 200ema at 352p is providing strong resistance.
The shares have failed to close above 375p since the first week of October 2008.
TSCO hit an all time HIGH 18 months ago @ 495p in Nov07. The shares have traded between 150p-495p for the last 10 years. Long term 50ema MONTHLY resistance @ 360p with support at 240p (200ema) and 315p (100ema)
The technicals on a Daily and Monthly basis are
D MACD(1.1)STOC(59) RSI (60) 5ema (335p) 50ema (334p)
M MACD(-14)STOC(53) RSI (44) 5ema (343p) 50ema (360p)
Last DAILY BUY signal was triggered on 13March @ 328p
Last DAILY SELL signal was triggered on 10Feb @ 361p
Last MONTHLY BUY signal was triggered Jul06 @ 360p
Last MONTHLY SELL signal triggered Jan08 @ 420p
Support levels are 251p and 301p
Resistance levels are 347p and 375p
Last 13 days trading range (Hourly chart) 321-351p
Short term (HOURLY)BUY 333p stop/loss 320p Target 375p
Short term (HOURLY) SELL 375p stop/loss 390p Target 352p
Long term BUY @ 250p and SELL @ 500p
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