Trends and Targets for 11-10-18

#VERSARIEN #CAC40 #Nasdaq  We’ve been short staffed this week, a “man down” situation thanks to unexpected chemotherapy. This evening, while reviewing the bloodbath which occurred on the market during Wednesday, the person who usually writes this headline piece phoned to discuss a real bloodbath.

It seems falling asleep with an IV Drip attached can be hilarious, if you wake up with a violent start. In the space of a few seconds, he turned his hospital room into something similar to a special effects crime scene, waving a tube squirting blood from his hand around. In the final analysis, nurses advise very little blood was lost and it just looked very, very, bad. Hopefully this proves similar behaviour to Versarien’s on 10th October, along with the wider markets.

 

The visuals against VRS do provide a little problem. Near term weakness below just 140p logically introduces 137p as a point at which we would hope for a bounce. The big problem comes if 137p breaks, thanks to 107p calculating as “bottom” on the immediate movement cycle.

At this level, the price meets the uptrend since 2017 and there are compelling arguments favouring a bounce, if 107p makes an appearance. To be honest, we do suspect this shall prove the intention.

How can it get out of trouble?

 

Any bounce requires exceed 176p to give some hope for the future. A move such as this anticipates 196p, essentially matching prior highs. If bettered, even slightly, the shares track record of outperformance calculates with 218p.

For now, we fear this shall not becomes interesting until 107p rears its bottom.

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

9:33:35PM

BRENT

82.38

Success

9:37:20PM

GOLD

1194.2

‘cess

9:41:03PM

FTSE

7054

Success

9:45:33PM

FRANCE

5171.7

5155

5113

5088

5226

5226

5295

5321

5195

‘cess

9:49:29PM

GERMANY

11604

Success

9:54:45PM

US500

2773.8

Success

10:00:51PM

DOW

25433

Success

10:11:51PM

NASDAQ

6983

6976

6967

6909

7002

7242

7439.75

7506

7174

Success

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