Trends and Targets for 25/02/2019

FARON PHARMA #Brent #DAX Finally, after 6 years, a significant milestone was reached in my personal journey through the joys of Leukemia. This one was odder than most, involving the protocol of going for a pee. (Keep reading, it is true toilet humour!) When first going through chemotherapy back in 2013, I was warned extensively about the danger posed by urine as the chemicals were expelled. My wife and I developed a complete bio-hazard protocol, effectively ensuring Russian secret agents could do what they wanted to our toilet pan, no-one was going to get hurt.

To this end, my wife purchased a large, industrial strength, quantity of cleansing wipes and loose latex gloves. On receiving my final chemo treatment in 2013, I asked how long we’d to keep the paranoid toilet cleaning regime?

“As always, just for 48 hours after each chemotherapy session,” the nurse replied. My wife’s face was a picture.

It’s now 2019, Leukemia returned exactly when expected due to a projected 5 year remission window, and I’ve been “doing chemo” for the last 5 months. My final session is this week and the milestone?

This weekend, I finally ran out of the cleansing wet wipes purchased in 2013! They’ve graduated from safe chemotherapy biohazard use to a really dangerous environment, cleaning up random cat vomit thanks to our two unwanted felines.

 

Which brings me neatly to Faron Pharmaceuticals. They are, after all, in the cancer trade but surprisingly, price movements suggest this is a pretty dangerous share to play with. When last reviewing it, we warned of the danger should the price manage to close a session below 57p. The given implication would be our ‘bottom’ calculation could be broken and therefore we could no longer calculate how far down it could fail. Unfortunately, not only did it close just below 57p, the share price has spent a couple of months flirting just below the 57p level and it was only in February did it recover just above this level. Thus, there is no doubt the drop level was indeed valid and equally, it appears the market has acknowledged this. We’ve painted a thick RED line on the chart at the 57p level.

As sometimes happens with this sort of nonsense, when the market exhibits awareness of the dangers of a “bottom”, it can be worth watching for miracle panic recovery signals and in the case of Faron, the BLUE line on the chart is liable to prove interesting. The situation now suggests should this trade above 77p, it should expect recovery to an initial 87p. Our secondary, if bettered, calculates at 102p.

For now, it’s dangerous but worth watching for a future trigger.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

7:02:03PM

BRENT

67.04

67

66.65

66.26

67.4

67.82

67.97

68.28

67

‘cess

7:05:38PM

GOLD

1328.41

2:48:35AM

FTSE

7191

2:54:23PM

FRANCE

5211.5

‘cess

2:56:50PM

GERMANY

11485

11396

11352.5

11303

11482

11490

11508.75

11526

11431

4:30:08PM

US500

2795.62

4:31:52PM

DOW

26047.7

4:33:34PM

NASDAQ

7094.37

4:35:23PM

JAPAN

21451

 

22/02/2019 FTSE Closed at 7178 points. Change of 0.15%. Total value traded through LSE was: £ 5,427,400,093 a change of -3.41%

 

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