#Gold #WallSt_Futures This one has proven a surprise. When we last reviewed the share back in January this year, we’d given our usual two drop criteria. Our initial target was hit and broken, the secondary drop target remained untroubled with the share bouncing 11p above. Then the fairy story commenced with the share confidently triggering and exceeding all three of our growth target levels. We even used the technical term; ‘if things go nuts’ in describing the potentials.
Our third level target was given as 149p and we’ve even circled it on the chart below.
Something funny happened!
We’d a pretty solid reason to anticipate some hesitation at the 149p level. There are times when we warn folk to watch out for the market opting to gap a share price up and in this example, the reason for the warning is pretty evident. On February 15th, when the market chose to neatly gap (manipulate) the share price above our target, sending a pretty strong indication plans for further upward price movement were intended. At that particular point in time, the highest number we could calculate was 149p, leaving us clueless as to the final destination. Eventually topping out at 332p, the price is now starting to make a degree of sense, doubtless due to the reality of enjoying a trading history.
Legend has it ‘Gaps’ in share price movements are generally covered with a share experiencing sharp reversals to the level of whatever manipulation gap is being chased. In the case of Argo, it was gapped UP from 143p in 15th Feb, the price neatly covering the gap with reversals on Monday 19 April. As a result, a bunch of folk are probably expecting a rebound from current levels, due to the ‘gap being filled’. Unfortunately, there is no requirement for these share price gaps to be covered and the harsh reality is, most of them are not.
But sometimes, if sufficient people believe a story, there can be a mass of buying pressure in the following session which in itself provokes a bounce. In the case of Argo, any bounce needs exceed 180p before we can take it seriously. Instead, we suspect some pain awaits for holders in the immediate future.
With traffic below 132p, we calculate the potential for reversal to an initial 120p. If broken, our secondary works out at 92p and hopefully a proper bounce. We can provide an ultimate drop level of 63p, this being the point we can no longer compute below. The visuals with 63p, given the level of previous lows indicate the potential for a proper bounce. We’re obviously far from happy discussing a scenario where the share price risks more than halving but the share has become dangerous. For the cautious, perhaps worth keeping a weather eye on it, just in case 63p makes a guest appearance in the weeks ahead.
We mentioned previously any bounce currently needs exceed 180p to be taken seriously. This will bring the share price back above Red on the chart, regaining the immediate uptrend. As a result, we can calculate an initial target of 222p with secondary, if exceeded, a more attractive sounding 259p. Once again, if the price “goes nuts”, we shall give a third target level and this time it’s at 337p.
It’s truly pleasing, knowing folk read this far down and still find time to view the adverts on the page. Definitely buys the coffee, so thanks yet again.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
19/04/2021 FTSE Closed at 7000 points. Change of -0.27%. Total value traded through LSE was: £ 5,222,332,197 a change of -24.15%
16/04/2021 FTSE Closed at 7019 points. Change of 0.52%. Total value traded through LSE was: £ 6,885,119,827 a change of 21.21%
15/04/2021 FTSE Closed at 6983 points. Change of 0.63%. Total value traded through LSE was: £ 5,680,355,568 a change of 19.55%
14/04/2021 FTSE Closed at 6939 points. Change of 0.71%. Total value traded through LSE was: £ 4,751,574,999 a change of -6.5%
13/04/2021 FTSE Closed at 6890 points. Change of 0.01%. Total value traded through LSE was: £ 5,082,010,354 a change of 5.4%
12/04/2021 FTSE Closed at 6889 points. Change of -0.38%. Total value traded through LSE was: £ 4,821,423,252 a change of -22.92%
9/04/2021 FTSE Closed at 6915 points. Change of -0.39%. Total value traded through LSE was: £ 6,255,086,151 a change of 4.29%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at firstname.lastname@example.org. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:AFC AFC Energy** **LSE:BBY BALFOUR BEATTY** **LSE:CBX Cellular Goods** **LSE:CEY Centamin** **LSE:EMG MAN** **LSE:EXPN Experian** **LSE:IGAS Igas Energy** **LSE:MKS Marks and Spencer** **LSE:ODX Omega Diags** **LSE:QFI Quadrise** **LSE:SBRY Sainsbury** **LSE:SDY Speedyhire** **LSE:VOG VICTORIA** **
Updated charts published on : AFC Energy, BALFOUR BEATTY, Cellular Goods, Centamin, MAN, Experian, Igas Energy, Marks and Spencer, Omega Diags, Quadrise, Sainsbury, Speedyhire, VICTORIA,
LSE:AFC AFC Energy Close Mid-Price: 69.6 Percentage Change: -3.87% Day High: 74.7 Day Low: 69.7
All AFC Energy needs are mid-price trades ABOVE 74.7 to improve accelerat ……..
LSE:BBYLSE:BBY BALFOUR BEATTY. Close Mid-Price: 318.8 Percentage Change: + 1.40% Day High: 322 Day Low: 314.6
Continued trades against BBY with a mid-price ABOVE 322 should improve th ……..
LSE:CBX Cellular Goods Close Mid-Price: 7.6 Percentage Change: -6.17% Day High: 8.12 Day Low: 7.55
Target met. If Cellular Goods experiences continued weakness below 7.55, ……..
LSE:CEYLSE:CEY Centamin. Close Mid-Price: 114.8 Percentage Change: + 0.75% Day High: 117.7 Day Low: 113.9
Target met. In the event of Centamin enjoying further trades beyond 117.7 ……..
LSE:EMG MAN Close Mid-Price: 165.05 Percentage Change: -0.78% Day High: 170 Day Low: 163.5
All MAN needs are mid-price trades ABOVE 170 to improve acceleration towa ……..
LSE:EXPN Experian Close Mid-Price: 2694 Percentage Change: -0.81% Day High: 2763 Day Low: 2689
Continued trades against EXPN with a mid-price ABOVE 2763 should improve ……..
LSE:IGAS Igas Energy Close Mid-Price: 23 Percentage Change: -2.13% Day High: 23.1 Day Low: 23.1
Continued weakness against IGAS taking the price below 23.1 calculates as ……..
LSE:MKSLSE:MKS Marks and Spencer. Close Mid-Price: 162.1 Percentage Change: + 3.58% Day High: 163.55 Day Low: 157.35
Continued trades against MKS with a mid-price ABOVE 163.55 should improve ……..
LSE:ODX Omega Diags Close Mid-Price: 77 Percentage Change: -4.35% Day High: 80.5 Day Low: 76.5
Weakness on Omega Diags below 76.5 will invariably lead to 68, along with ……..
LSE:QFI Quadrise Close Mid-Price: 3.98 Percentage Change: -6.47% Day High: 4.25 Day Low: 3.93
All Quadrise needs are mid-price trades ABOVE 4.25 to improve acceleratio ……..
LSE:SBRYLSE:SBRY Sainsbury. Close Mid-Price: 254.7 Percentage Change: + 2.41% Day High: 255.2 Day Low: 247.1
Target met. Continued trades against SBRY with a mid-price ABOVE 255.2 sh ……..
LSE:SDYLSE:SDY Speedyhire. Close Mid-Price: 75.6 Percentage Change: + 2.30% Day High: 75.3 Day Low: 73
Further movement against Speedyhire ABOVE 75.3 should improve acceleratio ……..
LSE:VOGLSE:VOG VICTORIA. Close Mid-Price: 6.15 Percentage Change: + 29.47% Day High: 6.4 Day Low: 4.75
Target met. In the event of VICTORIA enjoying further trades beyond 6.4, ……..