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:

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