Trends and Targets for 4/12/2018

Tesco #Gold #Nasdaq It’s the time of the year when some people think of turkey. Whereas we review turkey potentials and #Tesco currently take the honours. The share price has several problems making themselves known so we fear the worst.

The important number at present is 197.485p, this being the current level of RED on the chart, the uptrend since June 2016. By closing the 3rd December at 197.45p, the price entered a troubling zone despite some near term growth looking probable.

 

During 2018, Tesco enacted a Gap Up, then a Gap Down. While both price movements are a considerable time apart, these GaGa things tend be worth paying attention to. In the case of Tesco, the two movements gave the price sufficient power to hit 130p eventually! We’d normally treat this sort of threat with distain, especially as a potential bottom at a price level last seen 20 years ago, isn’t visually sensible. Unfortunately, we can even calculate below 130p. Ultimate bottom for this share price is at 77p.

Perhaps this is rather a lot of misery to pile on, especially as the price only broke the trend by 3.5 hundredths of a penny. For now though, it seems sane to suggest traffic near term below 197p can hope for a bounce at 164p. Ideally the 164p level shall not break.

 

If the price intends a miracle (or more probable, the market notices what just happened) it need only trade above 205p as moves to an initial 215p should make sense. Secondary, if bettered, comes along at 243p. We suspect, until the current Brexit nonsense is clarified, Tesco shall indeed experience a Xmas miracle. Only with closure above 243p dare we abandon our thoughts of future drops.

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

10:07:23PM

BRENT

61.84

Success

10:09:14PM

GOLD

1231.39

1224

1221.5

1217

1233

1235

1238.3

1242.2

1226

Success

10:14:45PM

FTSE

7090.03

‘cess

10:16:54PM

FRANCE

5061.2

10:20:26PM

GERMANY

11474.38

10:22:53PM

US500

2789.42

10:27:19PM

DOW

25830.2

10:29:00PM

NASDAQ

7052.62

7010

6976.5

6926

7100

7128

7169.5

7414

6925

10:31:11PM

JAPAN

22628

3/12/2018 FTSE Closed at 7062 points. Change of 1.17%. Total value traded through LSE was: £ 7,194,186,755 a change of -22.49%
30/11/2018 FTSE Closed at 6980 points. Change of -0.82%. Total value traded through LSE was: £ 9,281,193,872 a change of 48.56%
29/11/2018 FTSE Closed at 7038 points. Change of 0.49%. Total value traded through LSE was: £ 6,247,553,227 a change of -6.66%
28/11/2018 FTSE Closed at 7004 points. Change of -0.17%. Total value traded through LSE was: £ 6,693,191,726 a change of 0.55%
27/11/2018 FTSE Closed at 7016 points. Change of -0.28%. Total value traded through LSE was: £ 6,656,422,147 a change of 7.11%
26/11/2018 FTSE Closed at 7036 points. Change of 1.21%. Total value traded through LSE was: £ 6,214,567,261 a change of 9.15%
23/11/2018 FTSE Closed at 6952 points. Change of -0.11%. Total value traded through LSE was: £ 5,693,802,870 a change of 14.9%

 

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