Trends and Targets for 12/09/2018

#Chariot Oil #DAX #SP500 Sitting at a set of red traffic lights in Glasgow, a call was taken with news about New York. My business partner had been evacuated from Canary Wharf and it prompted a joke about the dangers of American doctors being allowed to fly Cessna light aircraft around skyscrapers, causing world panic. Thirty minutes later, when TV pictures appeared, the bad joke was regretted, never forgotten.

Of course, it’s absolutely nothing to do with Chariot Oil, just an echo of a helpless day, one of these thankfully rare moments of ‘I remember where I was when…’.

Unfortunately, there’s little going on at present with Chariot which looks like easing the mood of melancholy. We last glanced at the share at the start of this year and it’s accomplished sod all since, other than confirm a red trend line. This lack of upward mobility is a real concern, given weakness now below 8p looks very capable of an initial 6p but realistically, any break below such a point is liable to generate a bottom of 2p.

Quite oddly, some hope is being taken from the circled manipulation gap back at the end of April. Generally this sort of thing is the precursor of a share price being driven down fairly substantially with an entirely new trend expected to form. In the case of Chariot, the market gapped it down and the price stopped falling. Perhaps this indicates some real residual strength as visually we shall not be aghast if some news appears, next causing the market to gap it upward.

While being a little clichéd, this GapDown/GapUp scenario would present a pretty reliable suggestion of some miracle recovery ahead.

To make it real, any movement now exceeding 10.75p should prove capable of running uphill to an initial 14p. If bettered, even slightly, a secondary of 17p becomes a sane ambition.

With the share presently trading around the 9p mark, perhaps its silly to speculate on a movement which has not happened but for now, it’s proving fascinating and probably worth keeping an eye on.

Chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:17:30PM

BRENT

79.19

Success

10:19:24PM

GOLD

1198.86

‘cess

10:22:11PM

FTSE

7281.91

10:33:17PM

FRANCE

5298

‘cess

10:36:12PM

GERMANY

12000.91

11859

11754

11379

12042

12025

12043.5

12105

11923

Shambles

10:38:31PM

US500

2889.62

2866

2862

2844

2884

2892

2897.5

2909

2875

‘cess

10:40:54PM

DOW

25997.5

‘cess

10:43:29PM

NASDAQ

7511.15

‘cess

10:45:44PM

JAPAN

22715

Success

11/09/2018 FTSE Closed at 7273 points. Change of -0.08%. Total value traded through LSE was: £ 8,042,792,002 a change of -0.09%
10/09/2018 FTSE Closed at 7279 points. Change of 0.03%. Total value traded through LSE was: £ 8,050,026,757 a change of -26.36%
7/09/2018 FTSE Closed at 7277 points. Change of -0.56%. Total value traded through LSE was: £ 10,931,787,277 a change of 12.39%
6/09/2018 FTSE Closed at 7318 points. Change of -0.88%. Total value traded through LSE was: £ 9,726,599,947 a change of 2.33%
5/09/2018 FTSE Closed at 7383 points. Change of -0.99%. Total value traded through LSE was: £ 9,504,910,826 a change of 30.99%
4/09/2018 FTSE Closed at 7457 points. Change of -0.63%. Total value traded through LSE was: £ 7,256,128,960 a change of 28.36%
3/09/2018 FTSE Closed at 7504 points. Change of 0.97%. Total value traded through LSE was: £ 5,653,084,205 a change of -41.31%

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