CMC Markets, trading around 384p at time of writing

#Gold #FTSE Our share price charts are generally pretty boring, coloured only with a Blue downtrend and a Red uptrend, along with potential target levels in a cheerful Green on the .right hand side. However, we’re not immune from amusing ourselves to add some variation to the day and for this, we still glance at traditional “technical” indicators in the vague hope just one of them is making any sense. Quite a few ‘chart purists’, the sort of folk who think candle patterns mean something, dedicated months and months to explore a Tech Tool called ‘Ichimoku Kink Hyo’ and proclaimed it as the leader in charty tools, probably because it was one of very few which hinted at what the future could hold.

It is effectively just another moving average tool, one which quite cleverly looks at prior price movements and attempts to project them forward. The logic behind ‘Ichimoku Kink Hyo’ really needs conversational Japanese before any sort of sense becomes possible but the tool has one advantage over all others. It really brightens up a chart with the pretence it’s giving valuable information!

Here’s the thing the chart tool fails to illustrate. Apparently, share price movement in the near term – above 392p – should promote price movement to 398p which shall be quite a big deal, creating the potential of a “Higher High” making its presence felt. From our perspective, this creates a scenario where waiting for 420p to make an appearance makes some sense, along with very probable hesitation while selling pressure from those “stuck” since 2021 diminishes. Our secondary, for the longer term, calculates at 495p and a pressing need for us to examine changes to the Big Picture.

However, we can always dust off an alternate scenario. Below 350p risks suggesting imminent reversal to an initial 335 with our secondary, if broken, at 321p and visually some stabilisation. We can produce a third level drop target, maybe a proper bounce point, at 295p, returning the share price to the level at which it started this year.

Thankfully our track record in price projection is such where ridiculing “proper” technical tools is permissible. But they do have their place, adding colour and complications to charts which are otherwise quite drab.

Finally, “Coronation Street” is worthy of some comment, Mrs T&T ensuring we both watch the advert free offering shown daily on YouTube while we enjoy dinner. The comedy from the show makes it tolerable, though it currently seems to be morphing into a modern version of “The Bill”. The show has carefully ignored the North of England “grooming” issue, instead opting to produce a storyline which focuses’ on a pretty blond female teacher, grooming a mixed race schoolboy! The joke is subtle but brilliant, actually managing to annoy my wife when it was pointed out. Similar to share prices, whatever you’re watching may be exactly the opposite of what’s actually happening…

For CMC markets, we suspect it’s about to head upward.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:28:12PM	BRENT	10707.6
10:33:15PM	GOLD	4481.75	4464	4445	4336	4535	4590	4638	4696	4528	Success
10:36:30PM	FTSE	10288.7	10285	10237	10180	10347	10408	10451	10499	10352	‘cess
10:39:39PM	STOX50	5833.5
10:42:04PM	GERMANY	24310.5									‘cess
10:44:13PM	US500	7352
10:46:37PM	DOW	49352.3
10:57:59PM	NASDAQ	28803.7									‘cess
11:00:35PM	JAPAN	60506

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…

All Scottish Mortgage Investment Trust needs are mid-price trades ABOVE 1 ……..

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View Previous Scottish Mortgage Investment Trust & Big Picture ***

CMC Markets, trading around 384p at time of writing

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

LSE:CPI Capita. Close Mid-Price: 354.5 Percentage Change: + 0.00% Day High: 0 Day Low: 0

LSE:EZJ EasyJet. Close Mid-Price: 339.7 Percentage Change: + 0.00% Day High: 0 Day Low: 0

LSE:IGG IG Group. Close Mid-Price: 1742 Percentage Change: + 0.00% Day High: 0 Day Low: 0

LSE:IQE IQE. Close Mid-Price: 32 Percentage Change: + 0.00% Day High: 0 Day Low: 0

LSE:SCLP Scancell. Close Mid-Price: 26.25 Percentage Change: + 0.00% Day High: 0 Day Low: 0

LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 1442 Percentage Change: + 0.00% Day High: 0 Day Low: 0

*** End of “Updated Today” comments on shares

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