Trends and Targets for 24/10/2018

#FEVERTREE #CAC40 #US500 Last time we reviewed Fevertree a year ago, we were quite optimistic regarding its future price potentials. Thankfully, our predictions proved accurate, eventually exceeded quite nicely too. This time around, we’re rather less confident and it’s all to do with a single price motion.

 

Circled on the chart, on October 11th, the share price dropped to 2463p. To us, this immediately rung an alarm bell as it broke the extremely well defined uptrend since June 2016. When this sort of thing happens, it can often be worth paying close attention as the market just proved a perfect uptrend can be broken. Despite the share price NOT closing below RED, it’s a warning signal, one we’d be daft to ignore.

At present, the share price is trading around 2675p, once again threatening RED. Some fairly controlled panic appears possible should it now manage below 2590 as reversal to 2226 calculates as possible. If broken, secondary comes in at 1854p.

Around the 1854 point, things get a little scary. While visually it’s almost promised any drop should bounce at such a point, the longer term implication is quite nasty, should 1854 break. Any scenario including this gives ultimate bottom at 1073p!

 

When we give “ultimate bottoms” as part of any Big Picture analysis, they are only “ultimate” because we cannot calculate anything sane below such a point. It gives a reasonable expectation of a bounce, should any “ultimate” level make an appearance. At present, absolutely nothing related to this share price gives such a threat, just a Halloween scary moment on October 11th.

Oddly, the price does exhibit a manipulation gap from around the 11 quid level back in January 2017 (shown with a green box). If anyone fancies a gap covering exercise against the price, reversal to 1073 would certainly cover the evidence and balance the books…

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

9:15:38PM

BRENT

76.19

Success

9:32:27PM

GOLD

1230.34

Success

9:34:46PM

FTSE

7013.39

Success

9:38:17PM

FRANCE

5028.2

4984

4932

4896

5040

5061

5084.5

5128

4992

Success

9:40:48PM

GERMANY

11405

Success

10:27:01PM

US500

2742.62

2699

2676

2661

2721

2753

2771

2798

2717

Success

10:34:56PM

DOW

25263

Success

10:36:48PM

NASDAQ

7127.75

‘cess

10:39:30PM

JAPAN

22158

Success

 

23/10/2018 FTSE Closed at 6955 points. Change of -1.24%. Total value traded through LSE was: £ 9,250,752,256 a change of 48.14%
22/10/2018 FTSE Closed at 7042 points. Change of -0.1%. Total value traded through LSE was: £ 6,244,485,497 a change of 2.54%
19/10/2018 FTSE Closed at 7049 points. Change of 0.33%. Total value traded through LSE was: £ 6,089,694,862 a change of -8.8%
18/10/2018 FTSE Closed at 7026 points. Change of -0.41%. Total value traded through LSE was: £ 6,677,006,218 a change of -1.48%
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%

 

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