Trends and Targets for 4/03/2019

IQE plc #DAX #Brent Sometimes, it’s enjoyable attempting to link a funny experience to a share price movement. In the case of #IQE, I’m reaching to find any link between their recent price growth and something which happened to me last week. As regular readers know, I’ve been doing chemo to treat leukaemia and my six months of treatment completed on Friday. My brush with utter stupidity occurred, leaving the hospital on Thursday evening, opting to leave the chemotherapy plumbing attached to my right hand.

This particular device is something which attracts utter dread, with the monthly job of poking around to find places to jam it into a vein becoming increasingly difficult due to blood veins collapsing as chemo progress’. (This is one of the things they don’t tell you in the adverts for cancer!)

Relaxing in the back of a taxi, a problem reared its head. While I did have money to pay, it was a 10 pound note in my right hand trouser pocket. Poking my fingers into my tight blue jeans, the plumbing attachment stopped my hand tantalisingly short of the money. My left hand pocket contained just 3 quid in coins.

As we got closer to the ferry terminal, panic was setting in as there was no way a complete stranger was going to dig around in my pocket for that 10 pound note. Eventually, explaining to the driver I’d a problem reaching my money, he parked alongside a sodding school bus while I undid my belt and trousers, unzipped, pulled trousers around my waist until my left hand could reach over, push the pocket lining up, and reveal the 10 pound note. It was only when I handed it over did I notice the sign “You can now pay by card“.

And so, it turns out there is a link for IQE and it’s to do with reach.

The share price is showing an interesting potential for the near term. Essentially, it only requires exceed 93p and we’ll regard it as heading up to an initial 101p next. If exceeded, our secondary is at 107p. While neither movement is particularly interesting, it affords the share the chance to reach above the glass ceiling which has formed at 100p. Essentially, should the price find an excuse to close above such a point, it moves into a bigger picture range where longer term moves to an initial 117p are expected.

If exceeded, secondary is at 137p and the hope of a challenge against the BLUE downtrend which dates back to the year 2000. Closure above such a level will prove significant for longer term growth.

Finally, about the only real caution comes if it drops below 63p currently. In such a case, 26p is the best hope available as bottom!

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

6:48:51PM

BRENT

64.93

64.8

64.505

63.63

66.44

67.13

68

69.19

65.8

Shambles

6:59:38PM

GOLD

1293.97

Success

7:02:03PM

FTSE

7131.52

7:21:57PM

FRANCE

5281.2

Success

7:23:54PM

GERMANY

11647

11562

11536.5

11490

11650

11676

11753.75

11881

11507

Success

8:08:01PM

US500

2806.17

‘cess

8:10:06PM

DOW

26044.5

‘cess

8:33:25PM

NASDAQ

7154.62

Success

8:42:14PM

JAPAN

21763

Success

1/03/2019 FTSE Closed at 7106 points. Change of 0.45%. Total value traded through LSE was: £ 6,073,351,835 a change of -19.52%

 

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