Trends and Targets for 30/01/2019

Sound Energy #Nasdaq #CAC40 As a share which, by most standards, is presently trading in very dangerous territory, Sound is actually exhibiting some surprising potentials. But don’t get us wrong – the Big Picture warns this has serious drop potentials, so it is risky!

The immediate situation suggests the threat of ongoing weakness below 24p leading to an initial 19p. If broken, our secondary calculates at 12.5p, rather effectively matching the low at the end of last year. In the event such a disaster occurs, we would anticipate a bounce at such a level.

Circled on the chart is something which happened at the start of this year. For some reason, the price was permitted to travel beyond the immediate downtrend. Despite the share closing the session below BLUE, we wonder if this surge to 33p should be taken as early warning for some coming recovery. After all, the market just “proved” the downtrend was not sacrosanct.

 

If we adopt a belt and braces approach, the share actually requires better 35p to convince something positive is happening. Surprisingly, movement beyond such a trigger level allows recovery to an initial 50p. If bettered, our secondary comes out at 57p and a point where the visuals suggest a glass ceiling awaits. As for the longer term, we would require re-examine the numbers if 57p makes an appearance.

For now, worth watching we think.

 

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

9:59:09PM

BRENT

61.16

10:00:53PM

GOLD

1312.49

‘cess

10:05:22PM

FTSE

6882.23

‘cess

10:13:36PM

FRANCE

4933

4869

4842

4806

4943

4950

4961

4992

4904

10:19:09PM

GERMANY

11243

10:21:10PM

US500

2649.86

10:26:31PM

DOW

24684

10:28:14PM

NASDAQ

6681.55

6610

6578

6539

6683

6716

6745.5

6791

6652

Shambles

10:32:28PM

JAPAN

20688

 

29/01/2019 FTSE Closed at 6833 points. Change of 1.27%. Total value traded through LSE was: £ 7,080,532,639 a change of 39.11%

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