#Brent #Dax Few things are more enjoyable than a surprise holiday Monday. We’d totally forgotten about the one at the end of May, only a last minute invite on Sunday to a BBQ across on the mainland letting us know we’d a free day ahead. Usually, we’ll take steps to give the impression we were working on the holiday but, as we were all attending, such an ambition proved impossible! Instead, a decision was made to refrain from drinking and to knock together something plausible, when the party was over. Unfortunately, this ambition failed to make it past a cousin who’d also a great friend, albeit one with a dodgy sense of humour.
Two glasses of wine was all it took to knock me out. Some years ago, we discovered quality red wine is ‘fined’ (presumably a posh term for refined) through gluten and egg white. The method of discovery was simple, the pair of us sharing a bottle of Chateauneuf Du Pape over lunch followed by by me passing out for a day. Since then, as a dedicated cheap wino due to being allergic to egg and also suffer from Coeliac disease (the gluten thing), the joy of a quality glass of plonk has been sadly missed. But the two glasses of Red at the BBQ were excellent, despite each being poured from petrol station wine box, and ignoring the party, falling sound asleep, was the only available option. This fell quite solidly into the “with friends like this, who needs enemies” category as he tried to explain he’d a theory my previous reaction was contrived, because I’d expected it. But on the bright side, I’d only had two glasses of the wine which he’d somehow decanted into the cheap petrol station wine box and thus, left plenty for everyone else!
My wife, on Tuesday, was literally hopping from foot to foot with utter fury, when the “joke” was revealed. After all, she didn’t grow up with the pair of us and our merciless behaviour through childhood, maturing into elaborate practical jokes as we grow older. This time, I only slept for 19 hours, making me suspect the makers of Chateauneuf Du Pape perhaps are easing on their contents in homage to the current round of shrinkflation greed damaging retail.
All kidding aside, this perhaps shall provoke troubles for retailers as the year develops and earnings are reported. There must be many folk lifting an item from the shelves in a supermarket, only to decide “nope” as the packet of biscuits once were heavier, the coffee bag once held 300g of beans and now only 200g, an ailment spreading down most aisles of supermarkets. A personal guilty secret, gluten free choc-chip cookies, were in bags of 10 biscuits at the start of this year. Then, the contents shrunk to 8 and now, just 6 smaller cookies, making the decision to avoid buying them easy. Pepsi Cola became a private battle, their two litre bottles shrinking to 1.8 litres while the price increased. Around this point came the discovery supermarket cola tastes just fine with dark rum…
If these buying habits are repeated, it’s easy to suspect future retail earnings report shall be questionable.
For now, the banking sector remains the most immediate source of chaos as weakness now continuing below 44.9p for Lloyds looks capable of triggering reversal to an initial 43.4p. Should such a price level break, we suspect any bounce shall prove short lives as our secondary target works out at 41p and hopefully a proper bounce, despite the uptrend since 2020 being broken. We can make an eventual argument pointing at 35p as possible but this remains a target level we doubt.
If everything intends go right for Lloyds, the share price now needs exceed 50p to hint at the potential of miracle recovery to an initial 56p with secondary, if bettered, at a more useful future 61p. Alas, for now, a series of “lower lows” suggests Lloyds intends head to 41p again.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 9:17:47PM | BRENT | 74.2 | 73.41 | 72.36 | 70.3 | 74.84 | 76.8 | 77.56 | 78.94 | 75.32 |
| 9:19:51PM | GOLD | 1959.36 | 1950 | |||||||
| 9:21:30PM | FTSE | 7536 | 7572 | |||||||
| 9:23:28PM | STOX50 | 4291.4 | 4287 | |||||||
| 9:32:56PM | GERMANY | 15922.01 | 15883 | 15834 | 15751 | 15954 | 16035 | 16059 | 16118 | 15963 |
| 9:34:12PM | US500 | 4210.82 | 4214 | |||||||
| 9:35:48PM | DOW | 33049.3 | 33095 | |||||||
| 9:37:53PM | NASDAQ | 14378 | 14363 | |||||||
| 9:39:42PM | JAPAN | 31135 | 31257 |
30/05/2023 FTSE Closed at 7522 points. Change of -1.38%. Total value traded through LSE was: £ 5,598,786,913 a change of 22.18%
26/05/2023 FTSE Closed at 7627 points. Change of 0.75%. Total value traded through LSE was: £ 4,582,588,809 a change of -1.57%
25/05/2023 FTSE Closed at 7570 points. Change of -0.75%. Total value traded through LSE was: £ 4,655,843,667 a change of -31.38%
24/05/2023 FTSE Closed at 7627 points. Change of -1.74%. Total value traded through LSE was: £ 6,784,933,914 a change of 44.14%
23/05/2023 FTSE Closed at 7762 points. Change of -0.1%. Total value traded through LSE was: £ 4,707,065,644 a change of -36.1%
22/05/2023 FTSE Closed at 7770 points. Change of 0.18%. Total value traded through LSE was: £ 7,366,100,317 a change of 37.01%
19/05/2023 FTSE Closed at 7756 points. Change of -100%. Total value traded through LSE was: £ 5,376,481,422 a change of 0%
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 info@trendsandtargets.com. 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:ASC Asos** **LSE:CAR Carclo** **LSE:CCL Carnival** **LSE:CNA Centrica** **LSE:EME Empyrean** **LSE:FRES Fresnillo** **LSE:ITV ITV** **LSE:JET Just Eat** **LSE:MMAG Music Magpie** **LSE:NWG Natwest** **LSE:SRP Serco** **LSE:VOD Vodafone** **
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Updated charts published on : AFC Energy, Asos, Carclo, Carnival, Centrica, Empyrean, Fresnillo, ITV, Just Eat, Music Magpie, Natwest, Serco, Vodafone,
LSE:AFC AFC Energy Close Mid-Price: 16.86 Percentage Change: -3.77% Day High: 18.04 Day Low: 16.78
In the event AFC Energy experiences weakness below 16.78 it calculates wi ……..
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View Previous AFC Energy & Big Picture ***
LSE:ASC Asos Close Mid-Price: 356 Percentage Change: -12.32% Day High: 415.2 Day Low: 356
Target met. Continued weakness against ASC taking the price below 356 cal ……..
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View Previous Asos & Big Picture ***
LSE:CAR Carclo. Close Mid-Price: 13 Percentage Change: + 8.33% Day High: 14 Day Low: 12.95
Continued trades against CAR with a mid-price ABOVE 14 should improve the ……..
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View Previous Carclo & Big Picture ***
LSE:CCL Carnival Close Mid-Price: 796.4 Percentage Change: -0.10% Day High: 831.6 Day Low: 794
Continued trades against CCL with a mid-price ABOVE 831.6 should improve ……..
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View Previous Carnival & Big Picture ***
LSE:CNA Centrica. Close Mid-Price: 119.9 Percentage Change: + 1.27% Day High: 122.2 Day Low: 118.9
Target met. Further movement against Centrica ABOVE 122.2 should improve ……..
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View Previous Centrica & Big Picture ***
LSE:EME Empyrean Close Mid-Price: 0.82 Percentage Change: -20.39% Day High: 0.9 Day Low: 0.8
Target met. If Empyrean experiences continued weakness below 0.8, it will ……..
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View Previous Empyrean & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 648.6 Percentage Change: -1.13% Day High: 661.4 Day Low: 644.4
Target met. If Fresnillo experiences continued weakness below 644.4, it w ……..
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View Previous Fresnillo & Big Picture ***
LSE:ITV ITV Close Mid-Price: 71.08 Percentage Change: -0.75% Day High: 71.94 Day Low: 70.68
Target met. In the event ITV experiences weakness below 70.68 it calculat ……..
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View Previous ITV & Big Picture ***
LSE:JET Just Eat Close Mid-Price: 1292 Percentage Change: -3.08% Day High: 1342 Day Low: 1293
If Just Eat experiences continued weakness below 1293, it will invariably ……..
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View Previous Just Eat & Big Picture ***
LSE:MMAG Music Magpie Close Mid-Price: 18.25 Percentage Change: -3.95% Day High: 19.25 Day Low: 18.25
In the event Music Magpie experiences weakness below 18.25 it calculates ……..
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View Previous Music Magpie & Big Picture ***
LSE:NWG Natwest Close Mid-Price: 265.3 Percentage Change: -0.82% Day High: 269 Day Low: 264.8
Weakness on Natwest below 264.8 will invariably lead to 238 with secondar ……..
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View Previous Natwest & Big Picture ***
LSE:SRP Serco Close Mid-Price: 143.9 Percentage Change: -1.17% Day High: 145.8 Day Low: 143.7
Continued weakness against SRP taking the price below 143.7 calculates as ……..
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View Previous Serco & Big Picture ***
LSE:VOD Vodafone Close Mid-Price: 77.75 Percentage Change: -2.16% Day High: 79.97 Day Low: 77.42
Target met. In the event Vodafone experiences weakness below 77.42 it cal ……..
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View Previous Vodafone & Big Picture ***