Galliford Try #Gold #SP500 The often confused “we want to buy you, then you want to buy us” events surrounding Galliford Try and Bovis appear to be concluded for now. We last reviewed Galliford in February last year, when the price was 800p. Our initial drop potential was 696p – achieved – with secondary (when broken) at 308p. Any changes?
We’ve a slight suspicion Bovis may have dodged a bullet here as the share price is trading below its last ditch uptrend since 2010. There are a couple of important thoughts pertaining to its current position. Weakness now below 499p looks capable of entering a cycle down to 431p initially. We’d hope for a bounce at such a level but if broken, secondary calculates at 265p.
Rather worse is the calculation of the share price now trading in a region where “ultimate” bottom (the level we cannot calculate below) is at 39p. Obviously, this is the sort of ridiculous drop which usually requires some really grotty news issued.
At present, the share requires better 850p, just to signal the immediate pace of descent has eased. Such a miracle allows recovery to an initial 1079p. If bettered, secondary is at a longer term 1385p.
For now, it appears dangerous but perhaps worth watching for 265p making an appearance at some point. After all, folk will look at the lows of 2009 and 2010 and judge, for this reason alone, a bounce can be expected.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:48:18PM |
BRENT |
68.8 |
‘cess | ||||||||
|
10:50:23PM |
GOLD |
1279.5 |
1276 |
1273 |
1270 |
1281 |
1285 |
1288 |
1292 |
1278 |
‘cess |
|
11:00:52PM |
FTSE |
7248.41 | |||||||||
|
11:03:00PM |
FRANCE |
5285.2 |
‘cess | ||||||||
|
11:04:48PM |
GERMANY |
11982 |
‘cess | ||||||||
|
11:06:32PM |
US500 |
2802.12 |
2799 |
2786 |
2768 |
2827 |
2840 |
2850 |
2867 |
2819 |
Success |
|
11:08:43PM |
DOW |
25353 |
Shambles | ||||||||
|
11:10:24PM |
NASDAQ |
7282.65 | |||||||||
|
11:12:13PM |
JAPAN |
20989 |
Shambles |