#Mitie Group LSE:MTO, #CAC40 #NK225 About the only thing predictable about August is our constant moan about it being August! However, despite our expectation of the overall market just looking for an excuse to tank, a few shares are teasing the edge of interesting.
Mitie is a case in point. Currently it’s trading around the 157p level and need only manage above 163p to enter a cycle where we’re looking for some fairly useless recovery toward 173p. We’ve circled something quite odd on the chart below as it conceals a rather surprising price movement. The BLUE downtrend makes perfect sense aside from a single upward surge in June where the trend appeared to be broken. But the inset tells a quite different story as for 3 sessions considerable effort was employed to stop the price actually close above the trend. Our inclination is to take this as potentially pretty good, often defining a share price awaiting the release of some positive news. An event such as this will often provoke a “surprise” sharp upward movement.
And thus, it’s a question for those who pay attention to fundamentals. Are Mitie expecting an important item of news?
Currently, the share price shows with the potential of 211p with CLOSURE above 173p though, to be fair, even intraday traffic bettering 179p feels perfectly capable of provoking surprise acceleration.
Needless to say, as always there’s a shark in the water and it’s just under RED, the uptrend since the year 2002! Basically put, we’d now hate see this trade below 145p as “best guess” for drop target comes in at 75p.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
|
9:57:57PM |
BRENT |
73.71 |
‘cess |
|||||||||
|
9:59:33PM |
GOLD |
1207.87 |
||||||||||
|
10:01:20PM |
FTSE |
7662.63 |
||||||||||
|
10:03:11PM |
FRANCE |
5479.7 |
5454 |
5440.5 |
5420 |
5487 |
5502 |
5513 |
5536 |
5454 |
Shambles |
|
|
10:05:16PM |
GERMANY |
12606.55 |
‘cess |
|||||||||
|
10:07:24PM |
US500 |
2849.87 |
‘cess |
|||||||||
|
10:10:13PM |
DOW |
25497.9 |
‘cess |
|||||||||
|
10:12:35PM |
NASDAQ |
7434.82 |
‘cess |
|||||||||
|
10:14:00PM |
JAPAN |
22524 |
22427 |
22400.5 |
22335 |
22550 |
22597 |
22642 |
22716 |
22465 |
6/08/2018 FTSE Closed at 7663 points. Change of 0.05%. Total value traded through LSE was: £ 6,018,611,086 a change of 89.31%
3/08/2018 FTSE Closed at 7659 points. Change of 1.11%. Total value traded through LSE was: £ 3,179,276,502 a change of -67.69%
2/08/2018 FTSE Closed at 7575 points. Change of -1.01%. Total value traded through LSE was: £ 9,840,475,514 a change of -1.02%
1/08/2018 FTSE Closed at 7652 points. Change of -1.24%. Total value traded through LSE was: £ 9,941,905,370 a change of 85.64%
31/07/2018 FTSE Closed at 7748 points. Change of 0.62%. Total value traded through LSE was: £ 5,355,409,774 a change of 3.16%
30/07/2018 FTSE Closed at 7700 points. Change of -0.01%. Total value traded through LSE was: £ 5,191,373,123 a change of -6.91%
27/07/2018 FTSE Closed at 7701 points. Change of 0.5%. Total value traded through LSE was: £ 5,576,810,683 a change of -9.57% 
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
The Arrow icons refer to expected Big Picture direction. No Arrow, No clue!
Click Epic to jump to share: LSE:EME Empyrean** **LSE:FRES Fresnillo** **LSE:LMI LonMin** **LSE:RMG Royal Male** **LSE:SHP Shire** **LSE:SXX Sirius Mins** **LSE:TCG Thomas Cook Group** **
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Updated charts published on : Empyrean, Fresnillo, LonMin, Royal Male, Shire, Sirius Mins, Thomas Cook Group,
LSE:EME Empyrean Close Mid-Price: 7.12 Percentage Change: -8.65% Day High: 7.88 Day Low: 6.75
2017=17
Our concern appears fully justified! Below 7p remains pointing at 6.5p nex ……..
View Previous Empyrean & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 980.6 Percentage Change: -3.34% Day High: 1015.5 Day Low: 968.4
2018=35
Continued weakness now below 968 suggests travel to 950 next with secondar ……..
View Previous Fresnillo & Big Picture ***
LSE:LMI LonMin Close Mid-Price: 41.7 Percentage Change: -5.66% Day High: 44.36 Day Low: 41.54
2018=70
The scenario remains of growth bettering 44.4 supposed to challenge an ini ……..
View Previous LonMin & Big Picture ***
LSE:RMG Royal Male Close Mid-Price: 458.6 Percentage Change: -0.84% Day High: 464.6 Day Low: 455.4
2018=23
This isn’t terribly encouraging as below 455 still points at 447 as provid ……..
View Previous Royal Male & Big Picture ***
LSE:SHPLSE:SHP Shire. Close Mid-Price: 4443.5 Percentage Change: + 0.32% Day High: 4466.5 Day Low: 4416.5
2018=14
Moves now bettering 4467 still confirm this on a path to 4535 next. Second ……..
View Previous Shire & Big Picture ***
LSE:SXXLSE:SXX Sirius Mins. Close Mid-Price: 38.7 Percentage Change: + 3.26% Day High: 38.86 Day Low: 37.58
2018=23
The scenario remains of movement above 39p pointing at 44p next and a bit ……..
View Previous Sirius Mins & Big Picture ***
LSE:TCG Thomas Cook Group Close Mid-Price: 85.65 Percentage Change: -2.95% Day High: 89.45 Day Low: 85.65
2018=35
If there was a place called Good, TCG appear to be selling tickets away fr ……..
View Previous Thomas Cook Group & Big Picture ***
*** End of “Updated Today” comments on shares. Listed below are those where commentary remains valid.
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Many thanks for taking the time to read this and good luck for today. Please feel free to mention us after something goes right!
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