Today’s instrument is Tesco Plc‘s stock traded on the LSE exchange under the ticker TSCO (LON). 

When we look at the TSCO (LON) ‘s chart, we can see the retraction from the £276 level down to £272, followed by another fall to the £269 where it formed support which led to a steady climb back to the £276 reaching as high as £276.71. It was last found trading in £276.71 range.

Today we can expect a retraction to below the £274 closest support level, possibly in the £272 range as the resistance level around the £276 level appears strong.

If however, it manages to hold on to the current level then a move above the £276 overhead resistance can be expected.

(Click on image to enlarge)