RBS for 23/05/2019

RBS #SP500 #NK225 In our monthly visit to “The Bank that likes to say ‘Doh!’ “, the star of the clown sector of the FTSE has performed pretty much as expected. Our prior report (link here) was notable in lacking any confidence for an immediate share price recovery and now, we require to examine what the break of our initial target risks?

With the share price breaking below 219.5p, it enhances the probability of any near term bounce being short lived. When we review the immediate downtrend, the demand is for anything above 228 apparently suggesting the speed of descent has eased, allowing recovery to an initial 235p. This, while fairly useful, unfortunately ensures the share price remains in the drop zone with 202p offering the chance of a probable “real” bottom.

Only above 238 shall we start taking any recovery seriously as this will trash the immediate drop prospects and take the share into a region where 248 presents a target.

For now, below 216 still suggests 202p as providing a “bottom” but secondary, if broken, comes along at 177p eventually.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

9:23:28PM

BRENT

70.09

               

Success

9:25:30PM

GOLD

1273.82

               

9:47:24PM

FTSE

7321.61

               

Shambles

9:49:02PM

FRANCE

5368.7

               

9:55:30PM

GERMANY

12149.72

               

Shambles

9:58:55PM

US500

2855.82

2845

2836

2824

2865

2867

2872.5

2881

2850

10:00:59PM

DOW

25776

               

10:09:44PM

NASDAQ

7416.22

               

Shambles

10:11:40PM

JAPAN

21226

21190

21156.5

21075

21313

21359

21412

21486

21242

22/05/2019 FTSE Closed at 7334 points. Change of 0.08%. Total value traded through LSE was: £ 6,971,356,122 a change of 24.95%

This post has already been read 486 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.