The FTSE 100 index traded in the positive territory in the previous week and closed at 6189.64 on Friday, after hitting a high at 6237.02. Weekly MACD and stochastic are heading towards north along with the RSI indicator is treading water just above its 50line, hinting at the presence of mild bullish momentum in the coming week. With the 200day SMA (currently placed at 6257/60) acting as a strong resistance, the RSI and stochastic indicators are showing loss of upward potential, suggesting at a weak technical picture in the near term. Hourly momentum oscillators are also trading with a bearish bias, further validating the above stance. Key near term support is located at the crucial 6150 level, followed by the 20day SMA (currently trading at 6116/15) and 100day SMA (currently placed at 6089/85) levels. A breach below the latter might trigger negativity in the index. On the other hand, important daily resistance to be seen is situated at the 6214/19 level, followed by the 6237/40 and daily upper Bollinger band (currently placed at 6266/70) 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
