#Greggs #SP500 #NK225 Covering #GKP was traditionally a subject fraught with danger. Despite record numbers of page views, we didn’t (yet) receive a single complaint. Perhaps we need be more “clickbaitish”! However, our traditional non-dramatic approach is easier to live with.
Unfortunately, that ends now. A diagnosis of Celiac disease ended a habit of worshipping at Greggs lunchtime shrine. The intervening period saw the company’s fortunes suffer dramatically as their share price moved from 4 quid to 14 quid! Clearly our business was not important to them…
All joking aside, there’s something happening at present with the share price, sufficient to raise an eyebrow. It appears weakness now below 1038 risks driving reversal to an initial 1002p. While, in the grand scheme of things, such a movement can be ignored, there’s a greater problem if 1002p breaks, thanks to our secondary target lurking at 952p.
For us, this is quite a problem as it risks allowing the share to actually close a session below the RED uptrend since 2013. At time of writing, this particular uptrend is at 961p. The implicit risk, if the price closes below RED, is of any negative news report being capable of reversal toward 716p in a blink. And should 716p break any time in the future, the big picture secondary is at 368p, effectively turning the growth during the last 5 years into a good dream, one which vanished.
At present, Greggs is worth watching and for none of the right reasons. We’ve circled a movement earlier this year, one of these careless bits of manipulation which suggests the market wants the price down.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
|
9:56:01PM |
BRENT |
85.9 |
‘cess |
|||||||||
|
9:58:43PM |
GOLD |
1197.41 |
||||||||||
|
10:01:51PM |
FTSE |
7512.05 |
Success |
|||||||||
|
10:03:45PM |
FRANCE |
5492.2 |
‘cess |
|||||||||
|
10:06:10PM |
GERMANY |
12276 |
||||||||||
|
10:08:55PM |
US500 |
2921.73 |
2919 |
2911.5 |
2902 |
2929 |
2940 |
2944.75 |
2951 |
2919 |
Success |
|
|
10:11:57PM |
DOW |
26803.4 |
Success |
|||||||||
|
10:17:25PM |
NASDAQ |
7624.6 |
||||||||||
|
10:19:33PM |
JAPAN |
24288 |
24083 |
24021 |
23908 |
24310 |
24360 |
24444 |
24580 |
24200 |
‘cess |
3/10/2018 FTSE Closed at 7510 points. Change of 0.48%. Total value traded through LSE was: £ 8,822,472,980 a change of -4.52%
2/10/2018 FTSE Closed at 7474 points. Change of -0.28%. Total value traded through LSE was: £ 9,239,652,104 a change of 159.22%
1/10/2018 FTSE Closed at 7495 points. Change of -0.2%. Total value traded through LSE was: £ 3,564,396,119 a change of -47.45%
28/09/2018 FTSE Closed at 7510 points. Change of -0.46%. Total value traded through LSE was: £ 6,782,949,546 a change of 18.06%
27/09/2018 FTSE Closed at 7545 points. Change of 0.45%. Total value traded through LSE was: £ 5,745,286,461 a change of 0.81%
26/09/2018 FTSE Closed at 7511 points. Change of 0.05%. Total value traded through LSE was: £ 5,699,071,237 a change of -15.29%
25/09/2018 FTSE Closed at 7507 points. Change of 0.66%. Total value traded through LSE was: £ 6,727,908,763 a change of 2.05%