Trends and Targets for 28/01/2019

Fevertree Drinks #Brent #DAX This lots share price is all over the place. When we last reviewed it back at the end of November (link here) we’d an expectation the price intended a drop. The price managed confuse the issue, confirming the criteria for a drop, then triggering the criteria for a rise – which it met. However… we still suspect it intends reversal.

 

As the chart shows, the share price briefly regained the big picture uptrend for the best part of a day, then was trashed the next day. The situation now is slightly uncomfortable as weakness below 2590 expects a visit to 2471p. At this point, there’s a fairly major problem thanks to CLOSURE below 2471 indicating the potential of future travel down to 1923p.

Visually, there’s a major issue at the 1923p level. The price will achieve a lower low, having broken the long term uptrend. Worse, it will find itself solidly in a region where “bottom” calculates at 1142p eventually.

On the subject of visual cues, it’s pretty obvious a glass ceiling exists at the 3000p level. If the current drunken stagger through share price positions intends redeem itself, there’s a pretty solid promise the share need only better 3004p to enter a cycle to an initial 3310p. Secondary, if bettered, computes at a longer term 3711. At such a level, we will need revisit the numbers.

 

Alas, for now, we must regard it as heading to 2471 and hopefully bouncing again, next time properly and capable of closing a session above RED on the chart.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
1:55:13PM	BRENT	61.48	60.66	60.395	59.88	61.74	61.83	62.165	62.85	60.91
1:58:47PM	GOLD	1303									Success
2:01:14PM	FTSE	6805.15
2:14:48PM	FRANCE	4910.7									‘cess
2:17:45PM	GERMANY	11270	11158	11107.5	11036	11237	11322	11346.5	11704	11158	Success
2:19:45PM	US500	2666.12									Success
2:22:13PM	DOW	24761									‘cess
2:28:23PM	NASDAQ	6787									Success
2:31:08PM	JAPAN	20828

25/01/2019 FTSE Closed at 6809 points. Change of -0.13%. Total value traded through LSE was: £ 5,495,072,443 a change of 5.1%