Ted Baker for 12/06/2019

#DOW #NASDAQ Last time we reviewed Ted Baker was in December last year (link here) and the results since have proven quite spectacular. Successfully predicting a rise, while expecting a share price to fall is something fraught with danger. Somehow, Ted Baker managed fulfil all criteria, going up, meeting targets and then heading down anyway. Slightly mad!

For now, the issues are fairly straightforward. We’d projected 980 as a fairly major point of interest – in a drop cycle which was yet to happen last December – and now, the share has broken below such a point, closing at 955p on 11th June 2019. As a result, we’re pretty far from convinced Ted Baker is “cheap” and worthy of any attention. Instead, it now appears ongoing weakness below 939 looks capable of continued reversal toward 789p next. It’s absolutely crucial 789p is not breached on an initial surge downward of “real” bottom, the point at which we’d hope for a bounce with some integrity, calculates at 582p.

We cannot reliably calculate any drop target below 582p which is not prefaced with a minus sign…

Now we are reassured as to which trend TED is adhering (clue: RED) the share apparently needs better 1545 simply to regain the trend. We’ve considerable doubts this shall prove possible anytime soon as it appears the market is intend on starting a brand new trend for the share. In fact, at present it requires exceed 1122p just to give a slight hint the drop has been overcooked (which does happen). But for now, there’s a strong argument suggesting Ted Baker is hanging on “a shoogly peg”, to employ an apt Scottish term.

Should it reach 582p, we shall become very interested in what comes next.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:25:05PM

BRENT

61.76

               

10:26:35PM

GOLD

1327.76

               

‘cess

10:30:30PM

FTSE

7393.37

               

‘cess

10:33:23PM

FRANCE

5401

               

‘cess

10:35:53PM

GERMANY

12150.42

               

‘cess

10:41:35PM

US500

2887.07

               

10:43:58PM

DOW

26058.7

25990

25932

25836

26189

26258

26278

26444

26050

‘cess

10:45:38PM

NASDAQ

7514.92

7486

7448.5

7399

7544

7597

7618

7662

7526

‘cess

10:47:53PM

JAPAN

21184

               

‘cess

11/06/2019 FTSE Closed at 7398 points. Change of 0.31%. Total value traded through LSE was: £ 5,447,131,649 a change of 38.68%

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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