Thomas Cook for 20/05/2019

Thomas Cook #Brent #DAX Headlines such as below, “what are your rights if…” are rarely encouraging when viewing the future for a company share price. Oddly, despite recent trauma, we’re not entirely convinced Thomas Cook have finished their crash landing!

The big problem we have is circled on the chart. When the share price was gapped below the uptrend since 2012, this moved the price into a region where the big picture calculated provided an “ultimate” target bottom of -18p, an obviously impossible number. We’re forced to review movements since the price was manipulated below the RED uptrend in the hope of finding a level which may prove to be bottom, a point where it will be reasonable to hope for a bounce. At present, the signals suggest continued traffic below 10p points at an initial 7p. If broken, secondary is a hopeful bottom by 4p.

It’s worth remembering that circled area on the chart.

This was a clear indication the stock market wanted TCG down in price with the suggestion the good times were now over. The price will need something approaching a miracle to return it above RED on the chart. Working on the basis a rebound can be hoped, if only due to the volume of folk thinking “TCG is cheap”, any bounce from the 4p to 7p zone proving capable of exceeding 13p should have sufficient strength to reach 17p. If bettered, secondary is at 22p and we’d need stir the tea leaves again to gauge possibilities above such a level.

For the present, Thomas Cook are showing some pretty dire potentials and the Big Picture scenario with -18p is a pretty major concern.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
6:54:27PM	BRENT	71.59	71.24	70.59	69.82	72.42	72.64	73.045	74.5	71.64
6:57:01PM	GOLD	1278.06									Success
7:07:14PM	FTSE	7340.44
7:09:07PM	FRANCE	5419.8
7:11:39PM	GERMANY	12202.6	12147	12095.5	12021	12242	12272	12292.5	12453	12180	Sorry
7:13:36PM	US500	2860.22
7:15:25PM	DOW	25776.9
7:35:48PM	NASDAQ	7499.75
7:37:19PM	JAPAN	21207									Shambles

 

17/05/2019 FTSE Closed at 7348 points. Change of -0.07%. Total value traded through LSE was: £ 6,607,288,345 a change of 21.38%