UK Stocks: Big Weekly Bases Thread

3rd Nov '23 by Jack Corsellis

14 comments 1632 reads

Purposes of this thread is I'll update once a week, usually on a Friday, with UK stocks I'm monitoring building large weekly bases.

Markets can often be thematic. If I notice a strong theme (sector/group) I'll mention that too.

Why weekly bases? Because UK stocks often make terrible 'swing trading stocks' due to liquidity issues and wide spreads vs US stocks across the pond.

I combine technicals with fundamentals, to understand the type of setups I trade, please visit my YouTube channel.

Not financial advice, DYOR etc.

Please right click on the charts to enlarge.

(1) Redrow (LON:RDW) Kier (LON:KIE)

Interesting UK homebuilding/construction stocks looking strong. Of course, we know there is a woeful undersupply of housing in the UK.

RDW & KIE look to be current leaders of the pack from a technical and fundamental perspective. Other homebuilders have potential for big weekly bases, but they don't look as strong currently.

RDW StockRank 99

KIE StockRank 96

TW. StockRank 96

BDEV StockRank 91

PSN StockRank 76

(2) Rolls-Royce Holdings (LON:RR.)

Potential for another large base like previously this year. Solid looking weekly chart with bouts of strong volume and now reclaiming its 10-week simply moving average. Impressive relative strength all year vs the weak FTSE100.

RR. StockRank 85

(3) Yellow Cake (LON:YCA)

Broke out of an 18-month base in July and several weeks ago bounced nicely off its 10w SMA. Uranium a strong theme 'across the pond' with many US listed uranium stocks showing relative strength: Cameco (NYQ:CCJ) Uranium Energy (ASQ:UEC) Nexgen Energy (NYQ:NXE)

Cameco (NYQ:CCJ) recently reported earnings up 967% YoY.

YCA StockRank 76

Good Trading!

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Jack Corsellis

10th Nov '23

Friday 10 November 2023

Yellow Cake (LON:YCA) - Multi-week base bouncing off its 10-week moving average.

Rolls-Royce Holdings (LON:RR.) - Big base showing relative strength vs FTSE100.

Tesco (LON:TSCO) - Potential for a large Cup with Handle pattern.

19th Nov '23

Good action from several recent mentions above that have displayed relative strength vs the FTSE.

Rolls-Royce Holdings (LON:RR.) continues to show impressive strength.

Yellow Cake (LON:YCA) bounced off its 10-week SMA, acting well along with other US listed uranium stocks.

Redrow (LON:RDW) UK housebuilder beginning to breakout from a large weekly base. Many other UK housebuilders look constructive, such as:

Taylor Wimpey (LON:TW.)

Bellway (LON:BWY)

Berkeley group (LON:BKG)

Barratt Developments (LON:BDEV)

MJ GLEESON (LON:GLE)

27th Nov '23

Deliveroo (LON:ROO) potential to come out of a large Phase 1 Accumulation base following a brutal Phase 4 Downtrend.

Related but not related Tesco (LON:TSCO) and J Sainsbury (LON:SBRY) both have potential for large bases.

UK housebuilders continue coming out of large bases and numerous US housing stocks showing strength like TOL, DHI & MTH. Looks a pocket of strength.

Redrow (LON:RDW)

11th Dec '23

Sorry for not posting in a few weeks, busy busy.

Rolls-Royce Holdings (LON:RR.) continues showing leadership.

UK housebuilders continue to look strong.

Uranium stock Yellow Cake (LON:YCA) bounced off its 10-week SMA.

Yu (LON:YU.) potential for a multi-week base around its 10-week SMA.

Deliveroo (LON:ROO) multi-week base around its 10-week SMA.

Tesco (LON:TSCO) moving higher from its Cup with Handle.

Rusty2

Just sold out of Rolls-Royce Holdings (LON:RR.)

I hold Redrow (LON:RDW) and Yu (LON:YU.)

Do you any views Moneysupermarket.Com (LON:MONY) and BAE Systems (LON:BA.) ?

26th Dec '23

Yu (LON:YU.) multi-week base consolidating around its 10-week SMA. Region this year its 'based into' then moved higher (July & Sept). One of the strongest UK stocks from a relative strength perspective.

UK homebuilders continue to look strong, but many charts in this area short-term extended.

Breakout Trader

3rd Jan

Moneysupermarket.Com (LON:MONY) looking very constructive here. Consolidation over several weeks within a 10% range. I have a buy-stop order in place.

12th Jan

Rolls-Royce Holdings (LON:RR.) looks to be building another multi-week (Darvas Box) base into its 10-week SMA. One of the strongest and more liquid UK stocks.

Yellow Cake (LON:YCA) uranium stock big move from its 10-week SMA 'Shakeout Demand Tail' when I mentioned it on Friday 10th Nov 2023.

21st Jan

Not much for the UK market compared to the US which just hit an ATH.

Rolls-Royce Holdings (LON:RR.) continuing to show relative strength and a multi-week Darvas Box with its 10-week SMA catching up.

UK house builders has been a strong area. Few might pullback to 10-week SMAs in coming weeks.

Hi Jack, any thoughts on Journeo (LON:JNEO) regarding Darvas Box? I hold and also Rolls-Royce Holdings (LON:RR.).

30th Jan

Rolls-Royce Holdings (LON:RR.) continues to build a Darvas Box / Flag above its 10-week SMA.

Several UK housebuilders now basing into their 10-week SMAs after their big base breakouts I mentioned several months ago.

Taylor Wimpey (LON:TW.) being one of them.

Journeo (LON:JNEO) from a 'technical perspective' displays many characteristics I'd like. Issue is liquidity. Spreads currently around 1.5% wide (3% round trip) and low 50-day average dollar (pound) volume.

Rolls-Royce Holdings (LON:RR.) looks to be building another large base around its 10w SMA. One of the few high quality liquid stocks on the FTSE!

Hi Jack, yes spread on Journeo (LON:JNEO) is about 1.5%, it is NOT 3% roundtrip, ie buy and then sell. This actually is very tight for such a small cap, many large stocks have much wider spreads. Maybe there is relatively high volumes for such an mcap?

21st Feb

Rolls-Royce Holdings (LON:RR.) I've been mentioning for months broke out from another multi-week base and bounced constructively off its 10-week SMA.

UK Stocks: Big Weekly Bases Thread

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Jack Corsellis

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