Hurricane Energy #gold There comes a point in everyone’s life, a “you know you’re a grownup…” moment, which just feels ageing. Experiencing this today, automatically filling the salt shaker over the kitchen sink, gave a moment of self disgust. Forever gone was the crunch of spilled salt on a worktop, along with a withering look.
I often wonder if traders experience these lucid moments of common sense, when chasing a share price’, realising they dodged a bullet by opting to do something different. Popular share, Hurricane Energy, is approaching a point where folk may need question its future potentials.
The inset on the chart is being used to justify our doze of nerves. More often than we’d like, shares are promoted upward above a downtrend, giving an impression of good times ahead. Unfortunately, this impression will be dashed a few days later with the price forced below the downtrend again. We’ve adopted the term GaGa for this nonsense, Gap Up, Gap Down. As the inset shows, in the event Hurricane is gapped below that Green line anytime soon (presently 45.5) it will complete a perfect GaGa dance, moving the price into a region where we’d expect it to relax to 33p eventually. Secondary, if broken, is a bottom of 29p, this being a point where it almost must bounce.
Of course, we’re speculating on a movement which hasn’t yet happened but it is, without doubt, something to be aware of. Somehow or other, the market uses the strength in these GaGa things to generate sufficient weakness for severe drops.
Importantly, we’ve another inset worth discussion, again something fairly important. For some reason, the market has gone to exquisite lengths to avoid this share price actually closing above the 50p mark. It results in speculation this price is liable to prove quite interesting – if the market ever permits the share to actually close a session above 50p. Such a triggering move would suggest coming growth to an initial 61p. If exceeded, secondary is a longer term 72p, displaying a new all time high, preparing the share price for a strong future.
For now though, we’re worried about a “surprise” Gap Down appearing, taking the price below that Green trend line.
FUTURES – Would you fix this mess please!!!
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:05:20PM | BRENT | 66.95 | |||||||||
| 10:07:45PM | GOLD | 1321.9 | 1314 | 1311.75 | 1307.5 | 1320 | 1324.5 | 1326.5 | 1333 | 1315 | Success |
| 10:21:19PM | FTSE | 7182.11 | ‘cess | ||||||||
| 10:23:35PM | FRANCE | 5263.2 | ‘cess | ||||||||
| 10:38:47PM | GERMANY | 11362 | |||||||||
| 10:40:56PM | US500 | 2802.52 | 2784 | 2775 | 2756 | 2810 | 2813 | 2823 | 2836 | 2790 | ‘cess |
| 10:43:05PM | DOW | 25546 | ‘cess | ||||||||
| 10:44:45PM | NASDAQ | 7326.37 | ‘cess | ||||||||
| 10:46:51PM | JAPAN | 21141 | ‘cess |