Report by Messels

Messels currently has 19 long positions in their FTSE 100 Momentum portfolio having closed their position in Rio Tinto after it pulled back in the five-year range and broke medium term relative support. They remain overweight Retail and in particular, Howden, Tesco and Marks & Spencer which maintain uptrends and JD Sports and Kingfisher which renew base formations. Other stocks highlighted in their technical review this week include Informa, which has rallied back to the highs and rallies from relative uptrend support; while M&G finds 18-month uptrend support and develops a base at the bottom of the relative range.