With the 100week SMA (currently trading at around 6714/15) acting as a strong resistance, the FTSE 100 index recouped some of its previous week losses to end firmer at 6696.28 on Friday, after making a high at 6705.42. Although the weekly MACD is placed in the negative territory, RSI and stochastic indicators are heading north, reflecting the presence of bullish momentum in the coming session. Lower Bollinger band crossover on weekly chart also hints that the index is likely to recover in the near term. Signal line crossover by the daily MACD from below along with the RSI and stochastic pointing upwards also suggests potential upside momentum. Crucial weekly technical obstacle is situated at the 50 week SMA (currently placed at 6747/50), followed by the 20week SMA (currently trading at around 6859/60) and 7053/69 zone. A clear break and stability above the latter is required to confirm the bullish stance. On the flipside, important weekly support resides at the 6446/44 level, followed by the 200week SMA (currently trading at around 6328/25) and 6300/6297 levels. A move back below the latter might negate the bullish stance .
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
