FTSE 100: new highs

As the year grinds on we have seen the continuation of a number of interesting trends, with fresh 52-week highs occurring in two FTSE 100 stocks. 

In the place of honour sit BT and Direct Line, both of which have posted new yearly highs for their share price:

  1-year gain PE ratio Dividend yield (%)
BT 32% 17.8 2.6
Direct Line 34% 12.7 3.5


A solid performance from both of these firms has put them well ahead of the FTSE 100, which is up just 3.8% for the past twelve months.

Those with long positions in BT will be keeping an eye on the two current uptrend lines. The first runs from the September low, but the price has put plenty of distance between itself and the trendline. Support from this would come into play around 450p. Meanwhile, the second trendline is likely to provide support at 475p. The daily close above the late October high should ignite fresh upside here: 

Direct Line saw a strong pullback in August, but since then the shares have roared ahead once more, breaking through the August high in the second half of October. As with BT, the longer-term trendline is now some distance away, but has been the real area where bounces have materialised. However, the second one, off the late-August lows, would see support come in around 400p:

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.