Woodford Patient Cp Trst for 11/06/2019

#Gold #SP500 In a welcome respite from Brexit nonsense, we’ve noticed Google News Business section has been dominated with a new subject. Hedge Fund guru, Neil Woodford, has a vehicle traded on the FTSE250 with the price recently getting a little bit of a hammering. It has provoked emails!

To be honest, we’d never heard of the bloke until he became famous for all the wrong reasons but, despite receiving emails regarding WPCT, we’d probably be covering it anyway. The share price is doing something almost interesting. From our perspective, the issue is fairly simple; where’s bottom going to be?

The answer, thankfully, is equally simple but what really interests us are two distinctly different calculations. Whether we employ Big Picture arguments or near term, we’re calculating a bottom price anytime soon. (Bottom, obviously not ever guaranteed, is the level at which we’d hope for a substantial rebound)

In the case of Woodford, it appears continued weakness below 58p faces reversal to an initial 55p with secondary, if broken, at 52.6p. The proximity of each number tends give hope the price to stop falling. We cannot calculate below these levels with any degree of accuracy – or hope. Working on the hope the market intends designate bottom in the 50’s, how high could it be expected to bounce? At this point, we’ve got to abandon our software to a certain extent and simply review the visuals. Any initial bounce would make sense to attempt an initial 75p, essentially making a challenge of the manipulation gap in the company share price. Our secondary, if such a level is bettered, comes along at a doubtful 86p, challenging the downtrend since 2017.

Finally, to inject common sense into the discussion, please remember we cannot calculate a target below 52.6p.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:12:54PM

BRENT

62.03

               

‘cess

10:15:29PM

GOLD

1328.62

1324.6

1321.5

1313

1333

1331

1333

1336

1324

10:38:07PM

FTSE

7371.28

               

‘cess

10:39:19PM

FRANCE

5373.4

               

10:41:50PM

GERMANY

12102

               

10:44:10PM

US500

2889.27

2869

2864

2850

2893

2906

2924

2952

2868

‘cess

10:46:55PM

DOW

26085

               

‘cess

10:50:21PM

NASDAQ

7515.55

               

Success

10:52:22PM

JAPAN

21118

               

‘cess

10/06/2019 FTSE Closed at 7375 points. Change of 0.6%. Total value traded through LSE was: £ 3,927,877,834 a change of -29.61%

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