#SP500 #DOW Despite a company name like a quaint pub, beside a slow river on a summer day, Gallifords share price moves are proving less than alluring. Our previous report (link) was loaded with concern as the share price risked a traumatic drop. Starting this year with reversal from 8 quid to 103p justified our concern, along with raising further concerns for the future.
Shareholders are probably pretty aggravated about both the drop and the method employed. The share price was gapped (manipulated) upward above the downtrend since 2017, mid way through last December. Generally, this sort of price movement gives considerable optimism for the longer term, indicating the market wants the price to head upward. Of course, in this instance, it all went wrong with the official Share Exchange Ratio & Listing Details announcement at the start of this year.
By any standards, price movements have become messy and the share needs above 173p to give hope of recovery up to an initial 211p. Above 211p and we shall need revisit the numbers.
The “bottom” of 103p achieved at the start of this year was, according to our calculations, pretty concise. GFRD cannot afford movement below 103p at present as we cannot calculate further drop targets. With a share price being moved down, exactly to the 103p level, we’ve some hope the price shall simply mess around until news flow from the company provides genuine force to drive the share.
As a result, weakness anytime now below 150 risks reversal to an initial 138p. If broken, secondary is at 120p and hopefully a bounce.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:11:01PM |
BRENT |
63.81 | |||||||||
10:12:57PM |
GOLD |
1556.9 |
Success | ||||||||
10:15:11PM |
FTSE |
7631.68 | |||||||||
10:17:25PM |
FRANCE |
6021 |
Shambles | ||||||||
10:19:07PM |
GERMANY |
13419.91 | |||||||||
10:20:51PM |
US500 |
3293.77 |
3274 |
3265 |
3254 |
3294 |
3298 |
3302.5 |
3312 |
3280 |
‘cess |
10:24:34PM |
DOW |
29079 |
28835 |
28736.5 |
28604 |
28988 |
29135 |
29194.5 |
29337 |
28958 | |
10:26:12PM |
NASDAQ |
9048.12 | |||||||||
10:28:09PM |
JAPAN |
23955 |