#Nasdaq #Gold Back in June, Sirius finally hit our 13p drop target, something (link here) we’d been moaning about since February! Crucially, it did not really break target (it hit 12.98) and exhibited a half decent bounce. But price moves are proving reminiscent of AIM shares whose price sees controlled by chatroom gossip.
It starts to appear the 17p level shall prove crucial
anytime soon for Sirius. In the event the share price manages trade above such a
level, recovery to an initial 19.70p calculates as comfortably possible. Our
secondary, if such a level bettered, computes at 25.7p and we suspect a rise
will falter around such a level. Surprisingly, future recovery beyond this point
looks like growth in 10p increments, something which we simply do not
Otherwise, the problem level of 13p remains an issue
until such time Sirius manages close a session above 18p. We’d be inclined to
take this as a pretty solid movement into safety, even though the price has not
exceeded BLUE on the chart.
Below 13p and it still looks like Sirius shall
eventually bottom at 4p.
#SP500 #Japan When we last covered this potential disaster (and dodgy chart pattern) in May (link here), nerves were expressed regarding the share price future. A hopeful bottom of 82p had been designated as important, essentially as further drop potentials were really quite messy. In fact, 28p and less were mentioned as further drop targets!
Without a doubt, things have now gotten messy with the
loss of their Chief Executive, a large pre-tax loss, and reportedly large
numbers of customers unplugging from the company. Thankfully, their CEO was
awarded a 44% pay rise in the last year, an award which will doubtless work
wonders for staff moral within a company frantically attempting to put a
positive spin on a pretty rotten day on the markets.
The situation now is dangerous but we are able to offer
a slight glimmer of hope. The immediate situation suggests ongoing weakness
below 73p should find its way to 63p next and hopefully, exhibit a bounce. Once
again, we advocate extreme caution of 63p breaks as any bounce is liable to be
short lived. Instead, there is the potentials for freefall down to a bottom
(hopefully) at 28p.
In our opening paragraph, we mentioned a “Dodgy Chart
Pattern”, something easily missed as it covers the period since 2003. The chart
below shows the price has experienced a painfully clear Double Top from 2003 to
2015. Some people swear by this sort of thing, most people swear at this sort of
thing but there is always the risk of Pattern Believers creating a self
fulfilling prophecy. In the case of Centrica, it calculates with “Ultimate
Bottom” down at 12p. We suspect most folk will be happy to fill up with Centrica
shares if it ever actually achieved such a ridiculous number but, in the grand
scheme of things, our own potential of 28p is pretty blooming close.
To get out of this mess, Centrica needs exceed 108p at
#GOLD #FRANCE If we accept US market experience under Mr Trump as gospel, it appears a look at UK Defence industries may be justified. For this reason, we took a hard look at #Qinetic as their performance over the last 18 months has already been “interesting”.
The immediate situation is fairly straightforward.
Price movement now exceeding 307p should prove capable of targeting an initial
319p. Surprisingly, we note we already have three seperate criteria demanding
movement to the 319p. Visually, it also makes sense despite the strong potential
of a Glass Ceiling forming at such a level. Only with closure above 319p does
our secondary calculation at 335p start to make sense, along with a new all time
Qinetic share price requires break below 267p to spoil
the party, this tending nudge the price in the direction of 214p initially. If
broken, secondary is at 187p.
For now, we’d be fairly comfortable with the suggestion
319 intends make a guest appearance fairly soon. As for the longer term, should
the company follow the example of several US contractors, apparently we are
supposed to believe the really longer term attraction comes from 365p.
#FTSE #Brent This DNA testing fad looks like creating more trouble than Boris. Over the weekend, surprising news broke about three ‘brand new’ cousins when DNA evidence of late uncle’ activities emerged. Believing “this sort of thing only happened in TV soaps” is now a thing of the past but it makes for delicious gossip!
As for the markets, thus far SAGA has triggered
an upward movement, albeit slowly. Lloyds Group on the other hand appears
intent on heading to an initial 51.8p, requiring above 58.8p to trash the
prospects. And Barclays has done nothing of note, despite their share
price appearing more resilient than Lloyds.
Our “FTSE for FRIDAY” proved reliable with the
index comfortably moving to our initial 7547 points. Thankfully, the market
eventually closed the week above this target level at 7552 points, giving
considerable hope for the next few sessions. The situation now suggests moves
above 7561 points should bring a visit to an initial 7582 points. If exceeded,
secondary calculates at 7617 points. Overall, the market needs break below 7380
points to give early warning it’s all about to go wrong.
Aston Martin Lagonda share price has certainly
taken a tumble. Without going into a lot of boring detail, for some time we’d
been calculating a bottom around the 4 quid mark. However, recent reversals
cause us to revisit this potential and now we’re showing 539p as bottom. We
cannot calculate share price closure below such a point. At present, the price
requires exceed 861p to regain the trend and give optimism. For now, it’s less
007 and more Oh Oh.
#FTSE #DOW Probably the only thing more boring than reading an analysis about the markets in this weather, is writing one. There’s something about Scotland which removes ones tolerance to heat as anything above 20 tends be regarded as “too hot”. As for the FTSE, it looks ready to wilt a bit more.
The market closed Thursday at 7500 points, its lunge
downward to 7460 a few hours earlier proving pretty much exactly as expected
from our lunchtime report. If any miracle bounce is to be judged as genuine, the
index needs better 7533 points as this should apparently trigger some further
movement to a modest 7547 points. If bettered, secondary is at 7582 points. If
triggered, the tightest stop looks like 7493 points.
We’re not convinced as to the recovery potentials,
instead suspecting below 7460 shall prove capable of reversal to an initial 7400
points. If broken, secondary calculates at 7361 points. The tightest stop looks
like it’s around 7507 points.
#SP500 #NK225 It’s funny but Mrs May always struck as the type of person found running a local authority (keen not to rock the boat) but unsuited to run a country. Now, she’s been replaced by someone who used to run a local authority – London. Life is doubtless going to become interesting and we’re starting to wonder if the banks shall benefit.
Barclays share price has cheerfully wandered through
the downtrend for the last year, a movement we suspect was not accidental. Quite
an interesting situation now presents itself as share price growth above 163p
calculates as capable of movement to an initial 175p. If bettered, secondary
works out at a surprising 193p!
We’re a little surprised at this behaviour. The drift
through the downward trend removed Barclays, quite neatly, from a zone which has
been promising a bottom eventually of 134p. Or far worse, if such a level broke.
The immediate situation calls for a revamp of our thinking as the share requires
closure below 158p to give a pretty firm suggestion some strong growth is not on
the cards, anytime soon.
A suspicion exists of the market simply opting to start
a new trend, while everyone tries to figure out what the new bloke in the hot
seat is going to do next. Of course, the media will have us believe he also
doesn’t know from one minute to the next. Hopefully Boris adopts Mr Trumps
Twitter habits, entertaining the nation and giving those who seek to be offended
plenty to moan about.
For now, some slight optimism exists for Barclays.
#FTSE #Nasdaq It’s that time of the month again when we can justify bad temper moods, a typical outcome when reviewing the UK’s retail banks. Lloyds, for instance, experienced a month with a 2p range, doing nothing useful. Similar to the UK’s outgoing Prime Minister and our national Brexit hiatus!
It would be nice to suggest the last month has at least
dropped some clues for the shares future behaviour but frankly, it hasn’t. The
immediate situation does, thankfully, give a slightly tenuous scenario which
could give early warning for some upward travel.
Apparently, above 57.7p should bring movement to a
stunning 57.91p. Even by day trade standards, this would be a pretty useless
trading plan but the key signal will come if 57.91p is bettered. This will hint
at the potential of coming upward travel. Above 57.91p calculates with the
potential of 58.8p next. Beyond such a point and we’re showing 62.28p. Yet, this
is all pretty useless if we zoom out and view the last 5 years…
The share price presently requires exceed Blue,
presently at 64p, to give real hope for genuine price recovery. Nothing from
immediate movements gives hope this will prove possible. Instead, the threat
remains of weakness below 56p driving Lloyds down to an initial 51.8p. If
broken, secondary is a “bottom hopefully” at 46.8p. Our use of the term “bottom
hopefully” is careful, given achieving such a drop will bring Lloyds into
territory where quite severe reversals are possible with the number 26p being
bandied around as an ultimate drop target.
Perhaps our new “representative of real people” shall
provide a breath of fresh air in Number 10? After all, across the water Mr Trump
hasn’t exactly hurt the marketplace but we’re not holding our breath.