Barclays Bank & Toilet Paper

#Brent #Dax It’s been 3 weeks since we last viewed Barclays and nothing has happened. Time’s a funny old thing, we’ve even got toilet paper dating back to March last year! As with many things, this turns out to be Nicola Sturgeons fault and we still refer to the two rolls under the sink as ‘Nicola’s Paper’, a warning sign the cupboard urgently needs replenished.

The toilet paper affair was quite funny. While everyone was panic buying the stuff, our household stuck to 2020’s Lockdown #1 rules and thanks to chemotherapy and no immune system, decided to take advantage of the emergency supplies from the Scottish Govt.

There was once a quite dreadful brand of ‘loo paper’ called Izal. The stuff came in flat packets, similar in size to current packs of moist cleaning wipes. The contents were anything but smooth, probably able to double as sandpaper if required. While it was ideal to fit military backpacks or perhaps old British Rail toilets, izal was a truly unpleasant product. Somehow, Nicola Sturgeons Govt managed to source toilet rolls of similar quality. It forced us to break Lockdown #1 and go shopping.

 

Similar to Nicola’s toilet roll, Barclays share price remains at the back of the cupboard, never forgotten and only a weapon of last resort…

Or is it?

 

This week, Goldman Sachs are due to announce their earnings for 2020. Following JP Morgans numbers recently, analysts are getting fairly bullish about Goldman Sachs and we’d hope this shall herald the start of an earnings season where even the retail banks may experience some relief to their dismal performance.

For instance, last month we provided criteria for Barclays giving an important target level of 161p. Unfortunately, the best achieved in the last three weeks has been a worrying 158p, making us suspect some weakness may be present. Ideally, the share price needs better 161p to give any real hope for the longer term, due to fairly realistic growth becoming difficult to avoid. Closure above 161p makes travel to an initial 189p with secondary calculating at a more encouraging longer term 228p very possible.

As always, there’s a fly in the ointment thanks to the Blue downtrend on the chart, a line which dates back to the simpler days of 2013 when we were all trying to forget the banking crash a few years earlier. Perhaps some folk will regard it as important, perhaps not. In current market conditions, conventional trend lines seem to lack importance and in any case, Barclays ended 2020 by breaking free from a bigger picture downtrend, one which dates back to 2007. Given price movements, it certainly appears the market was perfectly aware of this almost invisible trend line (see inset on chart).

The immediate situation is fairly benign, the price needing below 146p to suggest coming weakness to 141p. Only below 141p do things risk being problematic as it shall indicate the break from the trend has failed, risking the share again being trapped at the back of a cupboard with a secondary target level of 126p.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:58:45AM BRENT 54.87 54.76 54.5 53.54 55.2 55.8 56.125 56.63 55.3 ‘cess
11:00:15AM GOLD 1828
11:03:00AM FTSE 6697.21 ‘cess
11:47:59AM FRANCE 5599 Success
12:04:42PM GERMANY 13721 13689 13643 13478 13814 13949 13976.5 14079 13862 Success
12:07:07PM US500 3752 Success
12:09:13PM DOW 30737 Success
12:11:18PM NASDAQ 12769 ‘cess
12:13:24PM JAPAN 28229 Success

 

15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%
14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%

FTSE for FRIDAY

#FTSE #Gold January has, thus far, proven fairly resilient with the FTSE despite plenty of reasons for contrary behaviour. We wonder how much of this can be attributed to a market achieving a series of ‘Higher Highs’ and breaking above a pretty firm downtrend? There generally comes a point in trading, when the strength of a trend becomes difficult to resist, creating scenario where a share price or index will move in a direction which defies logic.

In the case of the FTSE, there are some pretty impressive potentials currently showing and we’ve little choice but to anticipate the FTSE discovering a reason to move above 6,904 points and once again give sufficient reason for a further upswing. When a market is enjoying an uptrend, it’s pretty difficult to define the movement when the trend changes direction unless it’s one of these catastrophe falls, provoked by a major event. Our favourite method in this type of guessing game creates a series of contrary calculations and when these outlooks start to be fulfilled, we’re generally correct in believing a trend is changing. Unfortunately, this sort of thing will often involve giving trigger levels which shall be perceived as ‘miles away’ from the immediate market price.

 

For instance, the FTSE (trading around 6,790 at time of writing) needs fail below 6,689 to give the first indication the UK market may be slipping out of its uptrend. Weakness such as this permits reversal to an initial 6,627 points, along with a challenge of the immediate uptrend. Things become sharply dodgy, should 6,627 break as a further reversal cycle toward 6,378 is very possible.

Amazingly, London needs drop below 5,888 points to utterly confirm the upward break is ‘fake’, something visually unlikely. Unless perhaps we are greeted with front page news of Boris riding his bike through a sick children Covid-19 ward, wearing a Jimmy Saville t-shirt, Trump baseball cap and waving the EU flag. The current strength of the marketplace signals something seriously negative will be required to dissuade this FTSE from its climbing cycle.

 

The other side of this coin must examine what to anticipate, should the FTSE next manage above 6,904 points?

Apparently we should anticipate further market recovery toward an initial 7,049 points. If exceeded, our ‘longer term’ secondary (please remember our tenuous grasp of timeframes) calculates at 7,342, visually reaching the height of the FTSE before UK incompetence killed over 100,000 people.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:27:19PM BRENT 56.48 55.37 54.91 56.17 56.53 56.655 56.1 ‘cess
10:29:51PM GOLD 1846.75 1828 1808 1846 1858 1862.5 1843 Success
10:32:47PM FTSE 6801.54 6737 6705 6773 6811 6817.75 6786 ‘cess
10:34:51PM FRANCE 5672 5654 5643 5678 5686 5694.5 5660 ‘cess
10:37:31PM GERMANY 13975 13938 13913.5 14000 14028 14058.75 13939 ‘cess
10:39:27PM US500 3798.37 3784 3774 3814 3825 3833.5 3808 ‘cess
10:53:09PM DOW 31034.2 30987 30923.5 31076 31222 31312 31072 ‘cess
10:55:33PM NASDAQ 12921 12883 12819 12986 13039 13068.25 12940
10:57:15PM JAPAN 28817 28561 28486 28780 28975 29009.5 28787 Success

 

14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%
6/01/2021 FTSE Closed at 6841 points. Change of 3.46%. Total value traded through LSE was: £ 8,484,604,926 a change of 72.21%

Another look at Lloyds Bank

 #FTSE #DOWJONES Famously, Emperor Nero fiddled while Rome burned. Whereas, Boris went for a Bike Ride while England suffered. News of Britain recording the highest ever daily death count, taking the country to an unenviable 2nd worst in the world was a shock. Surprisingly, reports of UK fatalities being over 100,000 didn’t appear to panic the markets or futures but we’re interested in Lloyds share price, ‘cos it has effectively stopped moving again.

 

When we last reviewed Lloyds, we’d a demand the price exceed 41.5p to assure our software it was about to move. Unfortunately, this number has been entirely absent so far in 2020 and we are starting to wonder if it shall prove a forlorn hope. We’d suspected negative news would risk trashing Lloyds but thus far, Boris & Co’s successful efforts at producing a “World Beating Mortality Rate” has failed to shock the FTSE. In-house, we expect a seasoning of poor income level reports shall be required to spook the index.

For Lloyds, the immediate situation looks risky with movement below 34p risking triggering reversal to an initial 30p. If broken, our secondary calculates down at 26p and we’d hope for a bounce, yet again, if such a number makes an appearance.

The other side of the coin is slightly more encouraging, the share price now needing above 40p to trigger a (visually unlikely) movement toward an initial 43.7p with secondary, if exceeded, working out at a slightly more encouraging 50p. The chart confirms Lloyds is a mess but at least, our software isn’t really projecting a further crash, just a scenario where the share remains trapped between a rock and a hard place.

If it all intends go horribly wrong for Lloyds, our ‘ultimate bottom’, the level we cannot calculate below, comes in at 6p. At present, nothing looks capable of provoking this level. Aside from domestic news in the World Beating UK…

Hey, chart goes hereFUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:40:29PM BRENT 55.97 ‘cess
10:42:20PM GOLD 1845.54
10:44:42PM FTSE 6753 6733 6701 6617 6776 6773 6791 6815 6733
10:47:46PM FRANCE 5664
10:50:25PM GERMANY 13959
10:56:43PM US500 3816.32 Shambles
10:58:42PM DOW 31082 30973 30904 30821 31111 31167 31210 31289 31085
11:01:01PM NASDAQ 12990 Shambles
11:14:20PM JAPAN 28426 Success
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%
6/01/2021 FTSE Closed at 6841 points. Change of 3.46%. Total value traded through LSE was: £ 8,484,604,926 a change of 72.21%
5/01/2021 FTSE Closed at 6612 points. Change of -100%. Total value traded through LSE was: £ 4,926,938,806 a change of 0%

 

Compass Group Plc

#France #Nasdaq We never suspected Man Utd player, Marcus Rashford, would end up helping Compass Group with their income levels. Amazingly, his personal initiative for school meals gave a knock on effect. A subsidiary of Compass Plc, their education catering arm called #Chartwells, provoked a bin fire on Twitter and some wider media. Multiple photographs were shared illustrating just what the company provide for 10 days with a budget of £30. Some reports suggested it was £30 for 5 days but regardless, it seems an amazing profit opportunity.

Rather a few folk opted to visit their local Spar or Tesco to discover the real cost of the ‘Chartwells Child Hamper’, most agreeing the full retail value would be just over a £5. It’s truly amazing the new profit opportunities which appear, thanks to Covid-19 and children apparently starving, due to parents not working. We’re not sure if the paper bags of uncooked pasta shells are simply designed to be sucked… Definitely something which can be described as a “nice little earner!”.

Hey, chart goes here

Compass Plc are a seriously large concern, operating in 45 countries and employing over 1/2 million people. Presently trading around 1,405p, Compass certainly does not require much work to break free of the hiatus of recent months and perhaps Mr Rashfords efforts to feed hungry children nationwide shall assist. Somehow, we suspect this affair shall prove an unforeseen consequence, proof of the saying; ‘no good deed shall go unpunished’.

Share price movement next exceeding 1,475p should prove capable of a price lift to an initial 1,626p. If exceeded, our longer term secondary calculates at 1,970p and visually should challenge the pre-Covid high from February of this year. Only with closure above 1,970p dare we express true longer term ambition as a distant looking 2,569p becomes possible.

As always, there’s a ‘However’ and it emanates from the Covid-19 drop in March. The share price managed to dance lower than we would expect, reaching a pitiful 865p. This has created the unpleasant situation where weakness anytime now below 1,325 risks reversal to an initial 1,086p with secondary, when broken, at a bottom of 800p and hopefully a realistic rebound

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:30:05PM BRENT 56.78 Success
10:31:39PM GOLD 1855
10:33:32PM FTSE 6765.37
10:47:17PM FRANCE 5655 5619 5610.5 5588 5642 5672 5692.5 5717 5635 ‘cess
10:49:06PM GERMANY 13921 ‘cess
10:51:03PM US500 3800.02 ‘cess
10:53:24PM DOW 31076 ‘cess
10:55:15PM NASDAQ 12896 12841 12752.5 12626 12962 12972 13024 13108 12861 ‘cess
10:56:51PM JAPAN 28157

12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%
6/01/2021 FTSE Closed at 6841 points. Change of 3.46%. Total value traded through LSE was: £ 8,484,604,926 a change of 72.21%
5/01/2021 FTSE Closed at 6612 points. Change of -100%. Total value traded through LSE was: £ 4,926,938,806 a change of 0%
4/01/2021 FTSE Closed at 6571 points. Change of 0%. Total value traded through LSE was: £ 6,387,934,113 a change of 0%

Any Bright Sparks at Centrica?

#GOLD #SP500 A Google search for Centrica discovered they define themselves as an Electrical Services Company, a neat trick for the folk behind British Gas. As an international energy & services provider, they also proved inept with website design. Few things are more irritating than visiting a companies web presence and be faced with a survey asking “what do you think of us?”, before even getting the chance to view the usual corporate blurb.

It’s funny, one would suspect a company specialising in energy would experience a flourish to their share price during the cold months of winter. In the case of Centrica, this is rarely the case and we needed travel back 5 years before the share price experienced a cheerful first quarter. Maybe they are due a break in 2021 but so far, things tend reflect the lethargic motion of the FTSE rather than cold, long, nights requiring lots of electricity and gas for heating and lots of income for this multinational. Perhaps this year shall be different!

 

Presently trading around the 50p mark, the share needs above 54p to convince of happy days ahead. In such a scenario, we’re looking for recovery to an initial 58.5p with secondary, if exceeded, calculating at a longer term 73p. In the event of this triggering, visually the tightest stop looks like 40p.

The implications, should the 40p level break, are of coming weakness to an initial 31p, rather effectively matching the Covid drop from last year. Should 31p break, our final hope for a bounce resides at an ultimate bottom of 18p.

By most standards, Centrica share price dwells in a dangerous place currently but visually required little work to extract itself from the dark side.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:36:32PM BRENT 55.63
10:40:15PM GOLD 1842.7 1825 1817 1805 1852 1856 1867 1881 1843
10:42:30PM FTSE 6795
10:45:06PM FRANCE 5661 Success
10:47:32PM GERMANY 13936 Success
10:50:16PM US500 3800 3782 3776 3758 3812 3818 3839.5 3899 3782 ‘cess
10:53:00PM DOW 31028 Success
10:57:16PM NASDAQ 12927 Success

 

11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%
6/01/2021 FTSE Closed at 6841 points. Change of 3.46%. Total value traded through LSE was: £ 8,484,604,926 a change of 72.21%
5/01/2021 FTSE Closed at 6612 points. Change of 0.62%. Total value traded through LSE was: £ 4,926,938,806 a change of -22.87%
4/01/2021 FTSE Closed at 6571 points. Change of -100%. Total value traded through LSE was: £ 6,387,934,113 a change of 0%
30/12/2020 FTSE Closed at 6555 points. Change of 0%. Total value traded through LSE was: £ 2,960,610,483 a change of 0%

Virgin Money & The Amazing FTSE / Dax battle

#Brent #DAX Just because you can, never means you should! This trite saying bit back at the weekend, as usual thanks to our unwanted cats. One of the animals decided enjoying a fancy collar which opened a cat flap wasn’t worth the effort. Instead, it started peeing in the kitchen since the start of the year, causing an ongoing battle which employs a variety of scents cats allegedly hate. Needless to say, not a single one of the proprietary fixes worked.

With the first rain of the year spoiling a weekend in the mountains, an idea developed to dissuade the leaking cat – one which would be humane and not involved electric shocks nor shotgun cartridges. Instead, it was a simple fix using materials already available. For long forgotten reasons, we’d a drawer holding several motion activated LED lights. The lamps, roughly the side of a beermat, were designed to velcro onto a surface. Unfortunately, my invention employed a belt and braces approach due to a suspicion the cat wouldn’t be distracted by a light alone.

A couple of novelty Xmas cards from grandchildren provided the second part of the anti-cat device. It was the work of minutes (okay, most of Saturday) to remove the guts from the cards, running a few wires from the light sensors to the exposed Xmas card audio electronics. It was an immediate success, the sound of the cat flap slamming followed the horrible tones of “Jingle Bells” from beneath the kitchen table, the wooden floor brightly  illuminated and dry.

For safety sake, another lamp was installed in a cat friendly gap in the kitchen, just in case.

The early hours of Sunday morning brought a symphony of “Jingle Bells” & “Rudolph the Red Nose Reindeer”, the LED lamps and speakers being triggered repeatedly. Eventually irritated sufficiently to investigate, the cats were sound asleep but our Golden Retriever was having a great time, discovering she only needed to swipe her paw or tail to set the cat alarms off.

Hopefully, with my audio wiring now snipped, we can enjoy a nights sleep.

“Just because you can, never means you should! “ is a sentiment which Virgin Money must often feel defines their rebranding from Cydesdale & Yorkshire Bank to Virgin Money. From a share price perspective, things failed to go well over the last few years, the value remaining similarly becalmed as the big three retail banks. Thankfully, in the case of Virgin Money, the share doesn’t need a huge amount of work to propel itself free of the horrible Covid-19 drop to 46p in March. Despite the price trebling since the 46p low, we can now identify a trigger level at 164p, above which Virgin Money should commence some proper longer term recovery.

Above 164p calculates with an immediate potential of 186p, challenging the pre-pandemic high. With closure above this level, life becomes substantially more interesting as we can argue in favour of 260p as a longer term secondary target. Above such a point, we shall need revisit the tea leaves as life should become fun again.

For trouble to rear its head, the share needs below 70p as “bottom” is now at 20p.

Hey, chart goes here

The Amazing DAX (Dbi:DAX) The chart below shouldn’t really need a commentary but we’ll give it anyway. The German stock market has joined the USA, trading at All Time Highs and leaving the UK primary index looking weak. To be fair, even the UK AIM market is now visually outperforming the FTSE, trading at levels last seen in 2007. The burning question, obviously, is will the FTSE suddenly surge to catchup with better performing markets? Or is the UK paying the price of a history of incompetent political leadership?

We can make an argument which favours the DAX heading to 16,000 points as the next major point of interest. Whereas if the same criteria were applied to the UK FTSE, we currently struggle to calculate an upper ambition above 8,000 points.

Hey, chart goes here

 

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:51:38PM BRENT 56.27 54.38 53.645 52.77 55.63 56.27 57.81 60.25 53 Success
10:00:28PM GOLD 1849.28 Success
5:08:53PM FTSE 6901.35
5:10:25PM FRANCE 5722 Success
5:25:55PM GERMANY 14102 13970 13915.5 13843 14082 14133 14440 16002 13560 Success
5:28:03PM US500 3829 ‘cess
5:30:08PM DOW 31132 Shambles
5:31:36PM NASDAQ 13135 Success
5:35:50PM JAPAN 28365 Success

8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%
6/01/2021 FTSE Closed at 6841 points. Change of 3.46%. Total value traded through LSE was: £ 8,484,604,926 a change of 72.21%
5/01/2021 FTSE Closed at 6612 points. Change of 0.62%. Total value traded through LSE was: £ 4,926,938,806 a change of -22.87%
4/01/2021 FTSE Closed at 6571 points. Change of 0.24%. Total value traded through LSE was: £ 6,387,934,113 a change of 115.76%
30/12/2020 FTSE Closed at 6555 points. Change of -0.71%. Total value traded through LSE was: £ 2,960,610,483 a change of -37.96%
29/12/2020 FTSE Closed at 6602 points. Change of -100%. Total value traded through LSE was: £ 4,771,921,591 a change of 0%

FTSE for FRIDAY & DEEPVERGE Plc

#FTSE An email asking us to review a new name, #Deepverge PLC, immediately reminded of a disastrous start to an extended summer holiday. As a child, cursed with travel sickness, the family had developed an elegant regime when trouble developed. “He’s gulping!”, one of my siblings would yell, my father immediately pulling to the side of the road. They’d all learned projectile vomiting inside a car wasn’t fun nor pretty.

We were traveling in Sutherland, just north of Lairg, and heading to our holiday home. The roads are virtually unchanged today, single track rollercoaster race tracks, the journey often punctuated by emergency stops to avoid sheep, deer, or to accommodate unexploded children. The car was memorable, a gold coloured Vauxhall VX4/90 estate, brand new and very rare. As usual, being driven fairly quickly by a father who just wanted the journey to be over. It was the 1970’s, a time when speed limits were more of an voluntary nature in northern Scotland. Unsurprisingly, this is still the case here in Argyll but only when off the main roads and travelling the more remote single track routes, devoid of tourists.

The shout, “He’s Gulping” caused the car to enact an emergency stop and with long choreographed practice, the side door was flung open and I was pushed out. My brother, ever helpful, assisted my passage with a kick.

Unfortunately, this is where Deep Verge will always be remembered. We’d stopped with what looked like a shallow ditch at the roadside, the usual oily film of water at the bottom. Propelled directly into the ditch, it turned out to be a peat bog into which I immediately sank, up to the armpits. When eventually retrieved, stinking, covered in clinging mucky peat, and without surviving footwear (meaning my immediate future involved wearing wellies or nothing at all) I completed the journey naked beneath a bedsheet as unpacking the car to find replacement clothing was decided against. On the bright side, when we arrived at the highland croft, I was neither expected to help carry bags nor to patrol the grass removing sheep dung. I didn’t even get called upon to fetch water from the ancient well.

After nearly 50 years, Deepverge still means something to me!

 

However, it’s possible Deepverge Plc (trading around 33p currently) share price movements should prove more meaningful to the market. Without doubt, something positive is happening with this company who’s website boasts of their work in ‘Artificial intelligence, clinical research, medical device and life science.’ Needless to say, they also find space to mention Covid-19 in their portfolio of activities. The company share price is trading at a new high level, giving a fairly strong impression continued movement above 34.75p should attempt an initial 37.25p with secondary, if exceeded, a rather more useful looking 44p.

This sort of thing should take the price pretty close to the Tesla zone, a level above which we cannot calculate, presenting a ‘the sky is the limit’ scenario. In the case of Deepverge, if it finds a reason to exceed 47p, goodness knows where it could end up. For now, the price would need below 23p to cause panic.

Hey, chart goes here

FTSE for FRIDAY The UK index has been behaving fairly positively for the last few sessions with no signs renewed Covid hysteria is effecting the market. Quite the opposite in fact, despite the media now reporting patients in the north of England are being evacuated to Scotland, due to English hospitals being at capacity. The immediate situation for the FTSE (trading at 6856 at time of writing) is fairly hopeful with the potential of movement above 6904 points suggesting ongoing recovery to an initial 6958 points with secondary, if bettered, a longer term (or later in the day!) calculation of 7064 points.

If triggered, the tightest stop is unpleasantly wide at 6821 points. As shown on the chart, this sort of upward surge exposes 7361 as a level where some sort of hesitation almost must occur eventually.

Obviously, there must be a real risk pandemic panic shall take hold with the result we’d be alarmed should London find a reason to slip below 6741 points. Below this level, reversals risk becoming real with the potential of an initial 6688 points. If broken, our secondary calculation comes in at a shocking looking 6383 points.

 

Hey, chart goes here

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:55:27PM BRENT 54.57 53.91 53.645 54.56 54.86 55.5325 53.7 ‘cess
10:57:36PM GOLD 1914.3 1906 1897.5 1920 1928 1936 1914
10:59:29PM FTSE 6866 6786 6732.5 6880 6925 6935 6830 ‘cess
11:01:02PM FRANCE 5676.7 5626 5602.5 5662 5688 5696.5 5660 ‘cess
11:03:28PM GERMANY 13986 13894 13863 13987 14007 14038.5 13925 ‘cess
11:12:59PM US500 3803.37 3753 3737 3784 3812 3828 3761 ‘cess
11:15:48PM DOW 31034.1 30849 30735 31007 31194 31233 31002 ‘cess
11:19:08PM NASDAQ 12934 12652 12528 12767 12969 13036.25 12803
11:20:47PM JAPAN 27613 27389 27335.5 27580 27655 27716 27433

 

 

7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%
6/01/2021 FTSE Closed at 6841 points. Change of 3.46%. Total value traded through LSE was: £ 8,484,604,926 a change of 72.21%
5/01/2021 FTSE Closed at 6612 points. Change of 0.62%. Total value traded through LSE was: £ 4,926,938,806 a change of -22.87%
4/01/2021 FTSE Closed at 6571 points. Change of 0.24%. Total value traded through LSE was: £ 6,387,934,113 a change of 115.76%
30/12/2020 FTSE Closed at 6555 points. Change of -0.71%. Total value traded through LSE was: £ 2,960,610,483 a change of -37.96%
29/12/2020 FTSE Closed at 6602 points. Change of -100%. Total value traded through LSE was: £ 4,771,921,591 a change of 0%
28/12/2020 FTSE Closed at 6502 points. Change of 0%. Total value traded through LSE was: £ 1,908,434,539 a change of 0%