ZOO Digital #Brent #SP500 This once popular share is at risk of becoming really messy. We have a big problem with the drop last month down to 57p as, theoretically, any drop should have bounced at 70p. Instead, the market opted to take the share substantially lower before some sort of miracle recovery.
The immediate situation has become quite dangerous with the price once again flirting with the 70p level, tending confirm our drop calculation was indeed correct. For some reason, share prices will often gravitate around target levels and to us, the key issue is whether a price actually breaks below the target on the initial drop. In the case of ZOO, it did and thus, we are concerned.
The problem now comes if the share price manages below 60p as travel down to an initial 34p makes awful sense. Worse, if broken, our ultimate bottom calculates at 9p. Projecting such savagery against a price really is quite dire but unfortunately, when viewing these potentials in conjunction with the chart for the last couple of years, we’re effectively calculating “the dream is over” and the share has returned to its lair.
Thankfully, the price should not require great effort to escape this bear trap. At time of writing, it need only better 83p to enter a cycle to an initial 90p. Secondary, if exceeded, is at 109p and achieving such a point would remove the share price from its current big cat enclosure, where it risks being torn apart.
From our viewpoint, we’d regard it as worth a punt should 9p make an appearance. Or more likely, should it better 83p anytime soon as we’ve noticed, when the market realises the danger some prices become exposed to, the market will recover a price extremely fast.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:54:29PM |
BRENT |
67.18 |
65.6 |
64.88 |
64.02 |
66.7 |
67.47 |
67.6875 |
67.99 |
66.23 |
Success |
|
10:00:27PM |
GOLD |
1339.14 |
|||||||||
|
10:05:06PM |
FTSE |
7218.66 |
|||||||||
|
10:08:18PM |
FRANCE |
5193.5 |
Success |
||||||||
|
10:10:15PM |
GERMANY |
11433.26 |
‘cess |
||||||||
|
10:21:55PM |
US500 |
2787.02 |
2771 |
2764.5 |
2756 |
2787 |
2791 |
2797 |
2859 |
2771 |
‘cess |
|
10:25:11PM |
DOW |
25976.1 |
Shambles |
||||||||
|
10:26:39PM |
NASDAQ |
7068.74 |
Shambles |
||||||||
|
10:29:53PM |
JAPAN |
21415 |
‘cess |
0/02/2019 FTSE Closed at 7228 points. Change of 0.68%. Total value traded through LSE was: £ 5,802,332,502 a change of 7.66%