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Stocks to target

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Francis Hunt, the marketsniper, takes us through his watch list. Retail, energy, mining and tech stocks are on the menu.
Click here to get Francis' free DVD: The 7 primary mistakes traders make.

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CantosCharts features some of the best technical analysts in the business.

Clive Corcoran, Founder and Publisher, tradewithform.com
Michael Hewson, CMC Markets at CMC Markets
James Hughes, Senior Market Analyst at Alpari
Francis Hunt, Founder and Director, The Market Sniper
Sandy Jadeja, Chief Technical Analyst at City Index
David Jones, Chief Market Strategist at IG Index
Ashraf Laidi, at AshraLaidi.com
David Linton, Chief Executive at Updata.co.uk
Steven Mayne, Director at Mayne Financial
Aamer Nawid, Analyst, Fat Prophets

Hi. Good day. This is Francis Hunt, the Market Sniper. Take a look at a couple of equities today.

First up, Tesco. This is a weekly chart, a big pattern, big pullback that we experienced during the credit crunch period. I believe that this stock is now showing positive signs. We've got a pattern set up with a large amplitude, so one to keep in your watch list. Any takeouts in and around the 440/450 level should be interesting and monitored closely.

This is Tallow Oil. I've placed a Fibonacci retracement on this particular pattern and it's really interesting, it kind of highlights key levels of significance. You'll note the axis line that is split between the green and the red line, (our entry and our stop loss) how well it ties in with the golden mean Fibonacci, the 61.8% Fib on this level. Also, the projection which takes us up to the 161.8% Fib level has tied up perfectly with our target, pointing to a 1,620 price on Tallow Oil. So that's really interesting and a confluence of lines that adds to the geometry of this particular chart and makes me feel positively disposed towards this share at the moment.

Dunelm, well the trend is not your friend. I don't find too many things are your friend when you trade. I think it's a bit of a cliché. The target met and a profit made certainly. This has been upward trending. It did set up what you wanted to do is take your entry, take your target and be out. See how the price action has brought it all the way down to the funnel level and if you had just been long-term holding, you may well have given a lot of your benefits back. So once again, emphasising the value of targeting, something I believe in.

Fresnillo, the silver miner. We have a lovely period of trade in it. Consistently long as it was being accumulated. We warned that bullion was going to have a bit of a pullback and it did. There was a clear affect on Fresnillo. It hasn't regained to new highs as the silver commodity has and I believe there is great outlook for this and I'm watching for any potential setup of patterns to go long again on this silver miner stock.

Finally, I mentioned Baidu, the Chinese Google last time and I said we would make our target but then we could have a pullback and you can see subsequently since then, from our gap which was where we were last week, we've gone all the way on to $1.27. Met that target, but look at that pullback now as well, so once again, the value of targeting.

It's Francis Hunt, the Market Sniper, talking shares. I look forward to speaking to you again soon.

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