Trends and Targets for 20/09/2018

Debenhams (LSE:DEB) It’s becoming easy to imagine a dystopian future for UK high streets, rows of shops selling what people need rather than bland corporate entities selling whatever advertising and fashion dictate people think they want. It can be safely assumed we’ve little respect for retail corporatism!

If we go by retailers share prices, rather a few more household names are simply hanging on for dear life while they flounder around blaming “the internet” for all their ills. Somehow, the corporate mind seems unable to join the dots and discover “internet shopping” flourished due to their own inability to embrace the market place, instead assuming they controlled it. Debenhams, alas, joins the pack of giants struggling to swim in an ever smaller pool.

When we last reviewed Debenhams, we’d a thing about 16p and mentioned in passing an inability to calculate below such a level. Unsurprisingly, the share price broke the 16p level and was even kind enough to bounce slightly in early July, once again giving 16p a goodbye kiss as it continued reversal into the realms of despair. Our ridiculous drop target of -11p (minus 11p) below the 16p level was obviously impossible but when we review dance steps since 16p was broken, the scenario now exists of weakness below 10.3p bringing the price down to 8.375p next, a level at which some sort of bounce is hoped.

We cannot calculate below such a point.

For any bounce to make sense, the share price needs better the downtrend since the start of this year. Rather amazingly, this is currently at 16p and movement above such a level allows some recovery to an initial 19p with secondary, if bettered, at 24p.

At present, we suspect it’s a little bit stuffed and 8.37 is expected to make an appearance eventually.

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

10:15:13PM

BRENT

10:17:24PM

GOLD

10:21:49PM

FTSE

‘cess

10:23:51PM

FRANCE

Success

10:27:28PM

GERMANY

‘cess

10:30:49PM

US500

2910.67

2899

2896.5

2891

2911

2912

2915.5

2921

2900

‘cess

10:36:39PM

DOW

Success

10:38:49PM

NASDAQ

7499.49

7433

7392.5

7346

7513

7532

7550

7587

7452

10:40:30PM

JAPAN

19/09/2018 FTSE Closed at 7331 points. Change of 0.42%. Total value traded through LSE was: £ 6,565,643,949 a change of 4.96%
18/09/2018 FTSE Closed at 7300 points. Change of -0.03%. Total value traded through LSE was: £ 6,255,155,740 a change of -9.72%
17/09/2018 FTSE Closed at 7302 points. Change of -0.03%. Total value traded through LSE was: £ 6,928,775,046 a change of -9.93%
14/09/2018 FTSE Closed at 7304 points. Change of 0.32%. Total value traded through LSE was: £ 7,692,584,165 a change of -0.13%
13/09/2018 FTSE Closed at 7281 points. Change of -0.44%. Total value traded through LSE was: £ 7,702,800,654 a change of -12.29%
12/09/2018 FTSE Closed at 7313 points. Change of 0.55%. Total value traded through LSE was: £ 8,782,533,108 a change of 9.2%
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%

 

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