88 Energy #DOW #CAC40 This has experienced a bit of a hammering since we last reviewed it back in June. But first, todays good news. My bad leukaemia count retreated from 304 cells down to 8 bad cells in just a single week. Now back to 88E!
All joking aside, while bad news is half way around the world when good news is just getting out of bed, 88 Energy is on the very edge of delivering some truly grotty share price performance. The problem arises from our not unreasonable calculation which expected anything above 2.85p to reach 3.5p. This turned out to be nonsense, the expected surge failing the moment the price achieved 3p.
It’s easy to spot some negative news was involved but it doesn’t make a comfortable chart to view. Whatever report they released was used to drive the share down quite drastically and now, it’s hovering just above an expected bottom.
The bigger picture view is not terribly encouraging. Despite the share enjoying a close association with the RED uptrend since 2016 at present, we’ve a sneaking suspicion this shall break with weakness now below 0.97p driving the price back to 0.70p and ideally a bounce. The worst news comes, if 0.70p breaks due to “ultimate” bottom calculating at just 0.25p.
We are unable to project below such a level.
However, perhaps some optimism is worth inclusion, thanks to the price reaching the 1p level back in July and refusing essentially to sink any lower. The tenet, “if it ain’t goin’ down, it’s going’ up!” may apply but we’d be nervous attaching too much hope until movement above 1.25 achieves an initial recovery target at 1.42p. If bettered, our secondary calculates at 1.90p at which point a revisit will be needed.
Basically, any recovery above 1.90p is liable to prove game changing for the longer term.
For now, it’s a bit inconclusive, perhaps awaiting some sort of important fundamental report. Such being the case, a surprise surge capable of bettering 1.90p will be worth watching.
Good luck.
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Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
|
10:47:09PM |
BRENT |
80.08 |
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|
10:48:48PM |
GOLD |
1222.93 |
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|
10:50:53PM |
FTSE |
7067.16 |
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|
10:53:00PM |
FRANCE |
5157 |
5116 |
5107.5 |
5075 |
5175 |
5205 |
5232.5 |
5250 |
5138 |
‘cess |
|
|
10:54:59PM |
GERMANY |
11752.91 |
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|
10:57:59PM |
US500 |
2812.37 |
Sorry |
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|
11:00:32PM |
DOW |
25744.3 |
25460 |
25404.5 |
25249 |
25770 |
25967 |
26283 |
26748 |
25460 |
Shambles |
|
|
11:02:34PM |
NASDAQ |
7291.37 |
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|
11:03:48PM |
JAPAN |
22921 |
17/10/2018 FTSE Closed at 7055 points. Change of -0.06%. Total value traded through LSE was: £ 6,777,069,571 a change of -10.12%
16/10/2018 FTSE Closed at 7059 points. Change of 0.43%. Total value traded through LSE was: £ 7,540,354,046 a change of -9.39%
15/10/2018 FTSE Closed at 7029 points. Change of 0.49%. Total value traded through LSE was: £ 8,321,774,185 a change of -22.32%
12/10/2018 FTSE Closed at 6995 points. Change of -0.16%. Total value traded through LSE was: £ 10,713,220,944 a change of -24.84%
11/10/2018 FTSE Closed at 7006 points. Change of -1.95%. Total value traded through LSE was: £ 14,254,740,732 a change of 38.77%
10/10/2018 FTSE Closed at 7145 points. Change of -1.27%. Total value traded through LSE was: £ 10,271,982,487 a change of 16.07%
9/10/2018 FTSE Closed at 7237 points. Change of 0.06%. Total value traded through LSE was: £ 8,849,909,173 a change of 19.82%