TRADE: NMX6570 (Mobile Telecomms FTSE350 Sector)

A slightly unusual trade for me – but I do like the multiple confluences of this FTSE350 sector to initiate a long position. 

I will be entering long above 3850 with an initial target of 4200. 

  • Closed above 50+200eMA
  • Broke out of descending trendline
  • Bullish divergence on MACD – signal line produces buy signal and crosses over zero line
  • ADX is neutral – ideal for a swing trade
  • Point & Figure chart has produced a triple top – buy above 3850
  • Sector has outperformed FTSE100 in recent weeks, despite under-performing since Feb 2011

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