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.
|
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 |