Berkeley Group for 20/06/2019

#Gold #Nasdaq Sometimes, the stock market loves its little “gotcha” moments and we suspect Berkeley share price is about to illustrate this nasty trend. After announcing a slump in annual profits, a bunch of traders doubtless expected the share price to follow the trajectory of a brick dropped from a height. Instead, the share closed the session down just 0.2%!

Does this mean Berkeley’s share price is concealing inherent strength, especially as it reached a high of 3777 during the session, closing at 3552 eventually?

We really doubt it, instead suspecting the market has simply delayed the drop until sufficient number of investors reassure themselves Berkeley is “safe”, a concept reserved for the ridiculously naive when discussing share prices. Instead, the suspect is shall prove worth watching for movement below 3441 anytime soon as this should drive the price down to an initial 3352p. Secondary, if (when) broken, should be 3221p and hopefully a bounce. Unfortunately, there are some fairly severe longer term implications should 3221 break as it will take the price into “lower low” territory, as a consequence forcing us to accept a calculation of 2680p as the eventual bottom ambition.  This would also match the uptrend since the start of price recovery from 2009’s fun and games.

It’s pretty amazing we still must regard an event 10 years ago as the benchmark for current share price movements.

For BKG to signal it’s climbing out of trouble, the price currently needs exceed BLUE on the chart, 3890p at present.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

9:56:38PM

BRENT

61.75

               

‘cess

10:04:45PM

GOLD

1361

1341

1334.5

1325

1353

1363

1364.5

1375

1347

‘cess

10:07:00PM

FTSE

7411.77

               

10:20:11PM

FRANCE

5525

               

‘cess

10:27:43PM

GERMANY

12317

               

Shambles

10:39:20PM

US500

2926.77

               

‘cess

10:41:16PM

DOW

26506

               

‘cess

10:43:28PM

NASDAQ

7668.49

7600

7564

7523

7659

7687

7693

7724

7605

10:45:17PM

JAPAN

21327

               

‘cess

 

19/06/2019 FTSE Closed at 7403 points. Change of -0.54%. Total value traded through LSE was: £ 6,591,737,284 a change of -3.5%

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