Trends and Targets for 25/09/2018

#ENQUEST #GOLD #NASDAQ There’s a fairly significant detail we should make clear. When we’re running analysis against a share, commodity, or index, we prefer ignoring ‘conventional wisdom’ and instead adhere to what the numbers tell us. Thomas Cook proved a case in point with their “surprise” 28% drop into the clutches of dragons today.

Back on the 6th of August, we wrote for our clients “If there was a place called Good, TCG appear to be selling tickets away from it! Traffic now below 85 should provide a fake bounce at 81p, prior to finding bottom (hopefully) at 73p.” Our reports in the period since speculated on where bottom shall be, if 73p breaks. This sort of thing tends confirm our approach as we pay no heed to industry or chatroom gossip but it does tend suggest at least 6 weeks ago the market itself knew something was not right.

Oddly, we’re giving this example not as a warning but, in the case of Enquest, quite the opposite. Share price movements are starting to give some hope for a surprise movement. The immediate situation suggests movement above 40p should reach 44p. While a 10% rise cannot be ignored, a glass ceiling has formed at the 44p level on three occasions this year and there’s the hope any movement now to 44p shall both break the downtrend since 2014 and almost as a result, actually exceed the 44p level.

This will place the share in line for growth to our secondary of 61p, a point at which another stutter looks viable given the prices history at this level since 2015. Only with closure above 61p dare we express some proper optimism for the longer term.

Currently trading around the 39p mark, it requires below 31p to ring alarm bells as 21p looks like a sane drop target.

Fingers crossed time!

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

10:46:55PM

BRENT

80.78

‘cess

10:48:48PM

GOLD

1201.27

1194

1188.14

1180.52

1204

1204

1206

1210.8

1197

‘cess

10:50:56PM

FTSE

7452.7

10:52:58PM

FRANCE

5474

11:00:41PM

GERMANY

12362

11:06:05PM

US500

2921.42

2912

2908.5

2898

2920

2923

2926

2928

2914

Success

11:08:09PM

DOW

26593

‘cess

11:13:44PM

NASDAQ

7562.87

‘cess

11:15:49PM

JAPAN

23886

24/09/2018 FTSE Closed at 7458 points. Change of -0.43%. Total value traded through LSE was: £ 6,592,959,705 a change of -47.68%
21/09/2018 FTSE Closed at 7490 points. Change of 1.67%. Total value traded through LSE was: £ 12,602,342,861 a change of 73.74%
20/09/2018 FTSE Closed at 7367 points. Change of 0.49%. Total value traded through LSE was: £ 7,253,507,644 a change of 10.48%
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%

 

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