The FTSE 100 index posted significant losses last week and finished below the 200 week SMA (currently trading at 6381/85) at 6361.09 on Friday, after making a low at 6337.65. Although the weekly MACD is pointing north, RSI and stochastic are heading lower, hinting at the presence of bearish momentum in the coming week. Following the formation of a bearish harami candlestick pattern on the daily chart on 29 October 2015, the index has reversed its uptrend and continued to trade with a negative tone. Moreover, signal line crossover by the daily MACD from above along with the RSI and stochastic indicators grinding lower, further endorses the downside view. Important daily support to be seen is situated at the 6317/14 level, followed by the daily lower Bollinger band (currently placed at 6273/70) and 6250 levels. A breach below the latter might trigger bearishness in the pair. On the bright side, important near term resistance is located at the 20day SMA (currently trading at 6371/75), followed by the 6414/15 and daily upper Bollinger band (currently placed at 6468/70) levels.
Cashflow accounting – The need for consistency
20th September 2017
According to the US Securities and Exchange Commission, “Cashflow statements report a company’s inflows and outflows of cash”. This is such a simple and obvious statement. Unfortunately, the failure of accounting bodies around the world to
