Tesco;short covering to end at a peak of 198 to 200 pence

Not sure I agree pipey, new management seem to be washing up their act and stability could see an upturn,we all need food and they have a strong position in the market.Just my opinion.

Fair comment Tree,unfortunately for me i can only do the tecnical analysis[and thats only to a certain degree].The fundamentals are interpreted by everyone to the point that it makes it a somewhat subjective matter.Meaning there's no sure way of getting the fundamentals interpreted correctly,and getting share price bottoms correctly predicted on that basis alone.
Therefore i much prefer the tecnical approach.

I sometimes wonder about the technicals pipey, are they not a tad self fulfilling ? With so many watching technicals they all follow a trend until........some go against the trend,then they all follow the trend,if you get my drift ? Their benefit for me would be to endorseor suggest caution on any decision I felt was right regardless and maybe play heavier or lighter.

Yes Tree,there are problems with this approach,especially computer trading.Lots of big players shorting  shares to trigger a "sell point"causing a sharp fall,then quickly closing their bear positions.I suppose a combination of approaches should be used, would be the sensible way to go.
One thing i believe that all investors should do,is to set a price to buy,and buy at that price.Then set a stop loss on it.A lot of investors seeing their share go down,start giving themselves reasons to hold on to them.They even convince themselves that the shares are a long term prospect.Basically they are in denial.The hardest thing to do is to admit that you got it wrong.Swallow the pride and sell!.

I sometimes wonder about the technicals pipey, are they not a tad self fulfilling

Absolutely.

When a price has fallen and it starts back up. Look for levels where there was obvious buying on the way down.

These are called resistance levels.

When the price reaches this level it invariable falters.
This is due to the buyers at that level who have been hoping and praying for a miracle to give them a chance to get their money back doing exactly that and selling.

Now all professionals in the game are acutely aware of this, so they simply take profits when the price reaches these resistance areas.
Adding to the selling and the ultimate failure to breach the resistance level.

Professionals also know how to get the price through these high resistance levels if they're bullish.

What they do is to quickly push the price through these resistance levels usually early in the day when the volume is light.
In the hope that the potential sellers will think twice about bailing out when they see their profits mounting.
This price action in itself can be a strong buy signal.

What they do is to quickly push the price through these resistance levels usually early in the day when the volume is light.

I should have added push the price through and clear the resistance level.

You only have to look at chart or two to observe it happening exactly how I describe.