Trends and Targets for 6/02/2019

Angus Energy #CAC40 #SP500 Despite #Angus Energy being in a pretty vile position, it’s share price drop represents something we prefer witness as our last prediction (link here) mentioned a drop target of 4.5p. The lowest achieved (thus far) has been 5.25p and the route taken may prove quite important.

If we contrast the above picture against what happened with our thoughts on Ryanair yesterday (link here), Angus actually achieved a rise to our initial 16p, even bettering it slightly despite NOT closing above the 16p level.  The subliminal implication is of some strength being present. Next, unfortunately the share opted to fall off a cliff, but bounced – very slightly – on its first surge at 5.25p, comfortably above our thoughts of 4.5p. Again, there is a subtle suggestion of strength being present.

 

Now, we’re going to be fascinated in what comes next. To give a first clue bottom is “in”, we need the share price to better just 6p as this theoretically allows recovery to an utterly useless 6.5p. But to us, if the price were somehow to better 6.5p, we’d be justified in mentioning a return to 7p is expected. Only if the price closes a session above 7p can we proposed a future 9.8p as a viable ambition, returning the share above its immediate uptrend and giving considerable hope for the longer term.

 

In summary, for now we’ve some slight optimism. And would caution below 5.25p as a trip to 4.5p becomes inevitable. Secondary, if broken, calculates at a pretty devastating 1.75p.

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

9:52:09PM

BRENT

62.04

9:54:24PM

GOLD

1315.17

‘cess

10:01:03PM

FTSE

7170.96

Success

10:10:28PM

FRANCE

5074.7

5039

5027

5008

5080

5085

5104

5136

4997

Success

10:21:18PM

GERMANY

11361

Success

10:23:27PM

US500

2732

2719

2715

2707

2735

2739

2744

2747

2719

10:26:54PM

DOW

25376

Success

10:29:08PM

NASDAQ

7009.92

Success

10:31:22PM

JAPAN

20931

5/02/2019 FTSE Closed at 7177 points. Change of 2.03%. Total value traded through LSE was: £ 6,116,448,992 a change of 11.84%

 

Leave a Reply

Your e-mail address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.