Finding stocks to invest in has proven pretty difficult for me of late. I find it hard to short stocks and as such I’ve not been able to reconcile the technical analysis that I have been doing with the fundamental reality that we are still firmly entrenched in a severe economic downturn.
However my analysis tonight revealed a stock that looks like a good buy and its been infront of my nose for the last 10 years!
Sainsbury’s PLC (SBRY.L) is a retailer that I visit at least once a week. It’s never been a stock I have considered owning in the past but right now the technicals look good for a couple of points to the upside. I’ve designed the trade to ensure there is room for this stock to naturally oscillate – my stop is firmly below levels of support. The Stochastic is currently oversold and with the stock in the daily squeeze, I would expect at somepoint a relatively powerful move in one direction or the other.
My Sainsbury’s Order detail
Was just in London and spent all my time shopping here. Great company and from what it looks like great stock.