Trends and Targets for 4/10/2018

#Greggs #SP500 #NK225 Covering #GKP was traditionally a subject fraught with danger. Despite record numbers of page views, we didn’t (yet) receive a single complaint. Perhaps we need be more “clickbaitish”! However, our traditional non-dramatic approach is easier to live with.

Unfortunately, that ends now. A diagnosis of Celiac disease ended a habit of worshipping at Greggs lunchtime shrine. The intervening period saw the company’s fortunes suffer dramatically as their share price moved from 4 quid to 14 quid! Clearly our business was not important to them…

 

All joking aside, there’s something happening at present with the share price, sufficient to raise an eyebrow. It appears weakness now below 1038 risks driving reversal to an initial 1002p. While, in the grand scheme of things, such a movement can be ignored, there’s a greater problem if 1002p breaks, thanks to our secondary target lurking at 952p.

For us, this is quite a problem as it risks allowing the share to actually close a session below the RED uptrend since 2013. At time of writing, this particular uptrend is at 961p. The implicit risk, if the price closes below RED, is of any negative news report being capable of reversal toward 716p in a blink. And should 716p break any time in the future, the big picture secondary is at 368p, effectively turning the growth during the last 5 years into a good dream, one which vanished.

 

At present, Greggs is worth watching and for none of the right reasons. We’ve circled a movement earlier this year, one of these careless bits of manipulation which suggests the market wants the price down.

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

9:56:01PM

BRENT

85.9

‘cess

9:58:43PM

GOLD

1197.41

10:01:51PM

FTSE

7512.05

Success

10:03:45PM

FRANCE

5492.2

‘cess

10:06:10PM

GERMANY

12276

10:08:55PM

US500

2921.73

2919

2911.5

2902

2929

2940

2944.75

2951

2919

Success

10:11:57PM

DOW

26803.4

Success

10:17:25PM

NASDAQ

7624.6

10:19:33PM

JAPAN

24288

24083

24021

23908

24310

24360

24444

24580

24200

‘cess

3/10/2018 FTSE Closed at 7510 points. Change of 0.48%. Total value traded through LSE was: £ 8,822,472,980 a change of -4.52%
2/10/2018 FTSE Closed at 7474 points. Change of -0.28%. Total value traded through LSE was: £ 9,239,652,104 a change of 159.22%
1/10/2018 FTSE Closed at 7495 points. Change of -0.2%. Total value traded through LSE was: £ 3,564,396,119 a change of -47.45%
28/09/2018 FTSE Closed at 7510 points. Change of -0.46%. Total value traded through LSE was: £ 6,782,949,546 a change of 18.06%
27/09/2018 FTSE Closed at 7545 points. Change of 0.45%. Total value traded through LSE was: £ 5,745,286,461 a change of 0.81%
26/09/2018 FTSE Closed at 7511 points. Change of 0.05%. Total value traded through LSE was: £ 5,699,071,237 a change of -15.29%
25/09/2018 FTSE Closed at 7507 points. Change of 0.66%. Total value traded through LSE was: £ 6,727,908,763 a change of 2.05%

 

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