#Gold #SP500 There’s something strange in our household as we often appear to start the year planning on changing one of our vehicles. This ambition is usually tainted with failure, a realisation we don’t really achieve any sort of significant mileage. The machine I use most often hasn’t even covered 2,000 miles since its last MoT, the car purchased to take our animals out for local walks but also, as an emergency 4WD car. The bigger (also 4WD) Toyota has covered just above 5,000 miles in the last year, friends noticing both cars are identical in colour and also, size! But the smaller one gets over 60mpg!
So, my wife and I settled down in front of the smart TV which has a powerful computer routed through it, giving decent access to the internet and download speeds which are useful. In our house, we do have a wireless network for grandchildren’s devices but the things which matter are on ethernet, ensuring there’s no degradation of the fibre optic signal. We opened a bottle of red, a bottle of white, and went car shopping. As always, a brief flurry of interest over electric vehicles before common sense established itself. Electric cars don’t do terribly well in cool climate conditions and with the temperature overnight tonight expected to reach -7c, the chances of any vehicles at the front of our home maintaining a reasonable charge are low. We’ve also discovered vehicle electronics don’t relish the salty atmosphere blown from the sea outside in far from rare 50+mph winds, this resulting in a situation where a wonderful Ford C-Max was sold for a couple of quid, due to it being impossible for a garage to repair. Essentially, Argyll had gotten into the electronics and eaten them.
As our respective wine bottles evaporated, it became clear, once again we are quite happy with our pair of Toyota twins and the only reason to replace either would be open to debate. So we jumped away from Pendragon’s offerings, closed the Autotrader tabs, and continued to get angry at the fallout from the Post Office Fraud documentary. Surely the police must become involved? Once sub-postmasters were being told the situation “only” affected them and “only” their branch, it became fraudulent behaviour by post office managers, along with extremely questionable behaviour from the GPO legal teams.
Despite neither of looking inclined to replace vehicles this year, Pendragon share price is poised to potentially produce interesting behaviour.
The Blue downtrend dates back to 2007 and, as we’ve shown, there are a couple of big Red manipulation areas during the last couple of years. We’ve seen the share price gapped down to avoid the trend, then last year, it was gapped up in such a manner the share price rappelled above the trend line. This has the potential to provide a classic “GaGa” scenario, Gap Down and Gap Up. Or in plain speak, it should create a situation where the market shall continue to produce some gains.
If our reading of the situation is correct, above just 35.8p risks triggering recovery to an initial 40.3p with our secondary, if beaten, at a longer term 52.77p.
Should things intend go wrong, below 29.5 risks being the earliest warning as this threatens reversal to an initial 26.1p with secondary, if broken, an eventual 18.4p and probable bounce.
For now, we’re certainly inclined to optimism as it’s unlikely my wife and I were the only clients Pendragon had been hoping for!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:33:48PM | BRENT | 7793.6 | Shambles | ||||||||
| 10:00:08PM | GOLD | 2054.32 | 2045 | 2041 | 2035 | 2052 | 2063 | 2080 | 2102 | 2030 | ‘cess |
| 10:03:16PM | FTSE | 7588.8 | |||||||||
| 10:05:33PM | STOX50 | 4456 | |||||||||
| 10:09:21PM | GERMANY | 16626.4 | |||||||||
| 10:14:54PM | US500 | 4778.5 | 4773 | 4770 | 4765 | 4781 | 4789 | 4794 | 4801 | 4776 | |
| 10:21:28PM | DOW | 37569.5 | |||||||||
| 10:25:00PM | NASDAQ | 16830.3 | |||||||||
| 10:28:50PM | JAPAN | 36169 | Success |
15/01/2024 FTSE Closed at 7594 points. Change of -0.39%. Total value traded through LSE was: £ 3,725,366,941 a change of -35.31%
12/01/2024 FTSE Closed at 7624 points. Change of 0.63%. Total value traded through LSE was: £ 5,758,721,485 a change of -30.28%
11/01/2024 FTSE Closed at 7576 points. Change of -0.98%. Total value traded through LSE was: £ 8,259,450,269 a change of 68.77%
10/01/2024 FTSE Closed at 7651 points. Change of -0.42%. Total value traded through LSE was: £ 4,893,879,848 a change of -19.09%
9/01/2024 FTSE Closed at 7683 points. Change of -0.14%. Total value traded through LSE was: £ 6,048,276,632 a change of 28.89%
8/01/2024 FTSE Closed at 7694 points. Change of 0.07%. Total value traded through LSE was: £ 4,692,765,125 a change of -13.08%
7/01/2024 FTSE Closed at 7689 points. Change of -0.44%. Total value traded through LSE was: £ 5,398,845,060 a change of 19.89% 
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:BP. BP PLC** **LSE:FOXT Foxtons** **LSE:HIK Hikma** **LSE:SCLP Scancell** **LSE:SRP Serco** **
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Updated charts published on : BP PLC, Foxtons, Hikma, Scancell, Serco,
LSE:BP. BP PLC Close Mid-Price: 453 Percentage Change: -0.25% Day High: 458.4 Day Low: 451.3
Weakness on BP PLC below 451.3 will invariably lead to 450p with secondar ……..
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View Previous BP PLC & Big Picture ***
LSE:FOXT Foxtons. Close Mid-Price: 52.4 Percentage Change: + 2.34% Day High: 53.1 Day Low: 51.1
Further movement against Foxtons ABOVE 53.1 should improve acceleration t ……..
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View Previous Foxtons & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1933 Percentage Change: + 0.18% Day High: 1938.5 Day Low: 1919.5
In the event of Hikma enjoying further trades beyond 1938.5, the share sh ……..
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View Previous Hikma & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 10.25 Percentage Change: + 0.00% Day High: 10.38 Day Low: 10.25
Weakness on Scancell below 10.25 will invariably lead to 6.2p with second ……..
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View Previous Scancell & Big Picture ***
LSE:SRP Serco. Close Mid-Price: 167.9 Percentage Change: + 0.54% Day High: 168.7 Day Low: 166.7
Further movement against Serco ABOVE 168.7 should improve acceleration to ……..
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View Previous Serco & Big Picture ***