#Gold #WallSt We’ve had a few emails asking about this share, because they are apparently cheap. We’ve an immediate problem with companies awarding themselves “inspiring” names such as Evergrande, Phoenix, WeWork, Perfect, Friends Reunited, WorldCom, Windows 8, and so on. Generally, this sort of thing tends to backfire in the fullness of time with China Evergrande currently taking centre stage.
However, savings and retirement giant Phoenix (once known as Pearl since 1857) have a share price is looking a little problematic. Since 2014, the share has been achieving a series of “lower lows” and visually, this is more worrying than cheap Halloween decorations. Making matters worse, in September the market opted to gap the share price below a long term Red uptrend and this decision calls into question any excuse for immediate optimism.
And there is a solid excuse for optimism as the recent drop to 436p represented a Big Picture bottom, an important price level from which we’d normally hope to see some sort of bounce. It is certainly the case anything capable of propelling the price above Red at 485p currently should be significant, capable of triggering recovery to an initial 508p with secondary, if exceeded, at a longer term 591p. In fact, to be honest, we’d love to see the market discover a reason to gap this upward above Red as visually this will provide an almost confident picture for long term recovery.
Unfortunately, it would be unusual for the market to gap a price below such an obvious long term trend without strong reason and as a result, we fear for its future.
Now below 436p threatens to continue a cycle of misery, giving an immediate drop target down at 292p with our secondary, if broken, an eventual 261p. As we’re fond of Big Picture arguments, our suspicion is to watch for this reaching the 3 quid level as it’s be an ideal price from which to start serious recovery, ‘cos that’s where we suspect this Phoenix will find its little pile of ashes!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:59:12PM | BRENT | 8647.9 | ‘cess | ||||||||
| 10:07:10PM | GOLD | 1995.74 | 1991 | 1986 | 1978 | 1999 | 2007 | 2009 | 2015 | 2000 | |
| 10:10:20PM | FTSE | 7333 | Success | ||||||||
| 10:12:29PM | STOX50 | 4032.5 | |||||||||
| 10:15:26PM | GERMANY | 14741 | |||||||||
| 10:17:56PM | US500 | 4161.3 | |||||||||
| 10:27:31PM | DOW | 32930 | 32466 | 32335 | 32182 | 32574 | 33008 | 33031 | 33268 | 32902 | |
| 11:13:56PM | NASDAQ | 14326.5 | |||||||||
| 11:16:52PM | JAPAN | 30583 |
30/10/2023 FTSE Closed at 7327 points. Change of 0.49%. Total value traded through LSE was: £ 5,010,011,648 a change of 25.72%
27/10/2023 FTSE Closed at 7291 points. Change of -0.86%. Total value traded through LSE was: £ 3,985,095,310 a change of -23.59%
26/10/2023 FTSE Closed at 7354 points. Change of -0.81%. Total value traded through LSE was: £ 5,215,729,676 a change of -2.48%
25/10/2023 FTSE Closed at 7414 points. Change of 0.34%. Total value traded through LSE was: £ 5,348,410,782 a change of 19.98%
24/10/2023 FTSE Closed at 7389 points. Change of 0.2%. Total value traded through LSE was: £ 4,457,908,651 a change of 13.65%
23/10/2023 FTSE Closed at 7374 points. Change of -0.38%. Total value traded through LSE was: £ 3,922,414,231 a change of -25.79%
20/10/2023 FTSE Closed at 7402 points. Change of -1.29%. Total value traded through LSE was: £ 5,285,642,202 a change of 11.3%
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:AML Aston Martin** **LSE:CBX Cellular Goods** **LSE:OCDO Ocado Plc** **LSE:SCLP Scancell** **LSE:TERN Tern Plc** **
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Updated charts published on : Aston Martin, Cellular Goods, Ocado Plc, Scancell, Tern Plc,
LSE:AML Aston Martin. Close Mid-Price: 215.6 Percentage Change: + 1.32% Day High: 218.4 Day Low: 210.4
This remains dreadful, needing below 205 to trigger reversal to 194 with s ……..
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View Previous Aston Martin & Big Picture ***
LSE:CBX Cellular Goods. Close Mid-Price: 0.54 Percentage Change: + 65.23% Day High: 0.52 Day Low: 0.32
An interesting gain, achieved without any news breaking. Given everything ……..
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View Previous Cellular Goods & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 462.7 Percentage Change: -4.16% Day High: 496.4 Day Low: 458
Above 529 should give some hope, perhaps triggering recovery to an initial ……..
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View Previous Ocado Plc & Big Picture ***
LSE:SCLP Scancell Close Mid-Price: 12.75 Percentage Change: -3.77% Day High: 13.25 Day Low: 12.38
If Scancell experiences continued weakness below 12.38, it will invariabl ……..
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View Previous Scancell & Big Picture ***
LSE:TERN Tern Plc. Close Mid-Price: 4.75 Percentage Change: + 0.00% Day High: 5.25 Day Low: 4.75
This now has some nasty dangers, allowing below 4.75 to force reversal to ……..
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View Previous Tern Plc & Big Picture ***